Thanks for dropping by to see Friday Figures. This information is gathered from the GLVAR MLS system. This is the first Friday of the month, so I will add month-over-month comparisons where relevant. This is data you and your Realtor need to know before touring, making a purchase offer, or listing residential property this weekend.

Available listings for sale:  There are 15044 available single family homes, 4420 condominiums and townhomes. Both numbers are down substantially from last week. At the beginning of March we had 15852 available single family homes and 4542 condominiums and townhomes. The number of vacant listings is also down, to 11840 compared to 12686.

Distressed Properties: Of those listings, 6841 are noted as short sales (a drop of over 90) and 6207 are bank-owned (a drop of over 300).  On the first Friday of March, we had 6863 short sales and 6867 bank owned properties.

Contingent and Pending listings:  Properties in the process of being purchased are 7898 single family homes, 1505 condos and townhomes. That pushes the total over 9400! Of those, 3041 are short sale and 5457 are bank-owned. Clearly distressed properties are continuing to move our market.  At the beginning of March, we had only 6795 single family homes and 1253 condos/townhomes in pending/contingent status.

Single Family Home Prices: Of available listings, 304 under $50,000 (the first drop in recent memory); 2204 between $50,000-$100,000; 6513 between $100,000-$200,000; 4369 between $200,000-$500,000; 1075 between $500,000-$1,000,000; and 768 over $1,000,000. Declines in every single price category! The early March figures are  288 under $50,000; 2085 between $50,000-$100,000; 6857 between $100,000-$200,000; 4828 between $200,000-$500,000; 1167 between $500,000-$1,000,000; and 798 over $1,000,000. The month-over-month trend is still towards more low-priced properties. 

Condo and Townhome Prices: 498 under $50,000; 1582 between $50,000-$100,000; 1262 between $100,000-$200,000; 699 between $200,000-$500,000; 279 between $500,000-$1,000,000; and 167 over $1,000,000. After more or less constantly increasing for over a year, we finally have decreases in the number of condos available for under $100,000. The only segment that increased was the over $1,000,000 range. Last month we had 431 under $50,000; 1601 between $50,000-$100,000; 1357 between $100,000-$200,000; 759 between $200,000-$500,000; 286 between $500,000-$1,000,000; and 167 over $1,000,000. The price data this week is not enough to call a bottom, particularly when we still see news stories about record price drops, but it’s a good sign.

Recently sold: An incredible 933 properties have closed in the last week, propelled by the end-of-month crush. There were 3503 in the last 30 days, and 9133 have closed since the first of the year. At the beginning of March, there were 2907 closes in the prior 30 days.  Of the properties closed in the last week, 15 accepted offers within a day of listing, 100 properties were on the market less than a week with a wide range of prices; 84 were on the market more than 6 months; median was 53 days. 104 properties sold for $50,000 or less while only 15 sold for more than $500,000. Median sales price remained stable at $135,000 and median list price was unchanged at $139,900. At the beginning of March, Median sales price was $125,000 while median list price was $149,000, including 71 which sold for $50,000 or less. It is a relief to see signs that we are working through the bargain-basement inventory.

Rentals: 4763 homes, townhomes, and condos were available for rent in the Valley (an increase) according to the MLS system. There are 473 contingent leases (down substantially) and 1785 leases signed in the last 30 days (a decrease). For the record, 1908 of our available for-sale listings and 497 contingent/pending listings are occupied by tenants; those without written leases are at risk of losing their right to occupy the property.

Other information:  Just a little tidbit, 7 Housing Tax Laws that can save you money. 

I solve residential real estate problems for buyers and sellers. For more information, please click the “Contact Me!” link in the sidebar, or just call the number at the top of the page. While this data is available to any Realtor willing to look it up, this presentation was published by Bridget Magnus on BridgetMagnus.com and is her property. Make it a great weekend!