"How's the Market?"
As a Realtor in California, we get asked this question every day. The response, of course, is always positive. When I say that, people usually chuckle and say people in our industry always say that. Isn't it the truth, though? There is always somebody who wants to buy and somebody who wants to sell. But let's get some real information, right? Below is a chart our Broker put together comparing last year and this year. The basic idea is that, yes, sales are down, inventory is up, and surprisingly, prices are up a little (4%) from last year. The expected change will be that prices will adjust a little where they need to and that will cause the percentage of sales to increase and the percentage of days on market to decrease. While maintaining a positive perspective is great (not to mention necessary when bombarded with negative media) it is also a reality. There really is activity, homes are selling, and people really do want to live in the mountains! Take a look at the chart below for a specific breakdown by area. I'd love to hear what you think.
"The following chart represents statistics for each market area from peak to peak comparing the twelve months ended April 15, 2007 to the 12 months ended April 15, 2006. Overall the figures show that total transactions across the mountain are down 37%. The median sales price peak to peak is up 4% in comparison. Marketing time has increased 38% and the percent of sales price to list price slipped 1.2%. I have included all market areas with the breakdowns on specific performance.
| Arrowbear |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
32 |
73 |
-56% |
| Median Sale |
$ 186,000 |
$ 195,000 |
-5% |
| Average Days |
78 |
59 |
32% |
| % of Asking |
92.59% |
98.40% |
-5.9% |
| Arrowhead Villas |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
54 |
88 |
-39% |
| Median Sale |
$ 225,500 |
$ 225,000 |
0% |
| Average Days |
80 |
66 |
21% |
| % of Asking |
96.54% |
97.86% |
-1.3% |
| Arrowhead Woods |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
358 |
578 |
-38% |
| Median Sale |
$ 450,000 |
$ 442,500 |
2% |
| Average Days |
115 |
78 |
47% |
| % of Asking |
96.14% |
97.78% |
-1.7% |
| Cedar Glen |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
19 |
27 |
-30% |
| Median Sale |
$ 210,000 |
$ 179,000 |
17% |
| Average Days |
101 |
52 |
94% |
| % of Asking |
97.12% |
96.88% |
0.2% |
| Crestline |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
173 |
235 |
-26% |
| Median Sale |
$ 239,000 |
$ 250,000 |
-4% |
| Average Days |
100 |
72 |
39% |
| % of Asking |
97.84% |
96.96% |
0.9% |
| Deer Lodge Park |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
7 |
15 |
-53% |
| Median Sale |
$ 241,500 |
$ 260,000 |
-7% |
| Average Days |
83 |
58 |
43% |
| % of Asking |
99.80% |
97.38% |
2.5% |
| Green Valley Lake |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
43 |
67 |
-36% |
| Median Sale |
$ 268,000 |
$ 232,000 |
16% |
| Average Days |
122 |
92 |
33% |
| % of Asking |
95.36% |
97.64% |
-2.3% |
| Lakefronts |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
20 |
63 |
-68% |
| Median Sale |
$1,831,000 |
$1,500,000 |
22% |
| Average Days |
136 |
122 |
11% |
| % of Asking |
93.76% |
95.73% |
-2.1% |
| Running Springs |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
159 |
255 |
-38% |
| Median Sale |
$ 258,000 |
$ 255,000 |
1% |
| Average Days |
122 |
78 |
56% |
| % of Asking |
96.42% |
97.25% |
-0.9% |
| SkyForest |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
20 |
33 |
-39% |
| Median Sale |
$ 333,500 |
$ 298,500 |
12% |
| Average Days |
100 |
105 |
-5% |
| % of Asking |
96.89% |
93.57% |
3.5% |
| Twin Peaks/Blue Jay |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
87 |
121 |
-28% |
| Median Sale |
$ 242,500 |
$ 220,000 |
10% |
| Average Days |
73 |
60 |
22% |
| % of Asking |
97.23% |
98.22% |
-1.0% |
| Total MLS |
4/15/2007 |
4/15/2006 |
Change |
| Solds |
972 |
1555 |
-37% |
| Median Sale |
$ 312,750 |
$ 300,000 |
4% |
| Average Days |
106 |
77 |
38% |
| % of Asking |
96.09% |
97.24% |
-1.2% |
| All Data from Rim Association of Realtors as of April 15, 2007 |
| Information Deemed Accurate but not guaranteed. |
Written By Steve Keefe" |
