It’s time for Friday Figures! All information here is from the GLVAR MLS system. Know what’s really going on before touring, making an offer, or listing a home this weekend.

Available listings for sale:  We’ve actually dropped below 13,000 available houses! We’ve also dropped below 4,000 available condos and townhomes! There are 12898 available single family homes, 3957 condominiums and townhomes. The first Friday of last month there were 15852 available single family homes, 4542 condominiums and townhomes.

Distressed Properties: Of those listings, 6523 are noted as short sales and 4502 are bank-owned. Both numbers are lower, and the bank owned number is remarkably low, considering how many foreclosures we have. Last month it was 6863 short sales and 6867 bank-owned. You can see that the majority of the inventory that went away was bank-owned.

Contingent and Pending listings: Properties in the process of being purchased are 9194 single family homes, 1785 condos and townhomes. Gains from last week are not huge, but the gains over last month are notable: 6795 single family homes, 1253 condos and townhomes. Median asking price of contingent houses is unchanged at $149,900; median asking price of contingent condos/townhomes is only $74,000 (a small drop from last week). The accepted price is confidential until the sale closes. Based on what I am seeing, many of the homes below median price will sell for greater than asking price.

Single Family Home Prices: Of available listings, 241 under $50,000; 1901 between $50,000-$100,000; 5477 between $100,000-$200,000; 3708 between $200,000-$500,000; 986 between $500,000-$1,000,000; and 755 over $1,000,000. The first Friday of last month, the figures were 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. Median price on an available single family home has dropped in the last week to $176,366; median price per square foot is unchanged at $93; median time on market for currently available homes has dropped by one to 106 days.

Condo and Townhome Prices: 482 under $50,000 (back under 500, still up month-over-month); 1384 between $50,000-$100,000; 1106 between $100,000-$200,000; 631 between $200,000-$500,000; 269 between $500,000-$1,000,000; and 157 over $1,000,000.  Median asking price on these units is up somewhat to $114,000 — the first real evidence of possible price increases; median price per square foot is $98; median days on market is 111 days. 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.

Recently sold: Closings continue to rise, as 1144 properties have closed in the last week. This coming week may also have an elevated number of closings just due to quirks of the calendar. 3751 have closed in the last 30 days and 12727 have closed since the first of the year — almost the number of available listings today. The first Friday of last month, there were 774 properties that had closed in the previous week, 2907 in the last 30 days. Of the properties closed in the last week, 140 properties were on the market less than a week; 7 were on the market over a year; 94 were on the market more than 6 months (7 for over a year); median dropped again to 38 days (median time on market including the contingent period was 118 days). Last month median time on market was 53 days. Notice the huge gap in time on market between available homes and sold homes? Well priced or otherwise desirable homes are moving fast and everything else is not. Dropping time on market and the number of homes on the market less than a week tend to indicate increased buyer interest, but that interest was a couple of months ago. 150 properties sold for $50,000 or less, 21 sold for more than $500,000. Whether something sold for higher or lower than list price depended on area and condition. Median sales dropped again to $125,000 and median list price dropped to $129,900 as well.  Last month median sales price was $125,000 while median list price was $149,000.

Rentals: 4761 homes, townhomes, and condos were available for rent in the Valley according to the MLS system, while last month there were 4742. There are 534 contingent leases and 1716 leases signed in the last 30 days.

Other information: Case-Shiller data for February came out this week, and lots of people had lots of things to say about it (prices dropped, we know); the financial whizzes over at TheStreet.com have noticed our “sizzling” foreclosure market, but somehow not noticed our dwindling supply; we may yet get high speed rail to LA, but through a private venture; Top Chef masters series has begun filming, and at least one commentator thinks it’s a long term good thing for our economy; Steve Wynn has been a very busy guy in the media this week; some builders are actively competing with foreclosures (please remember, the nice person at the builder’s office works for them, not you!). And on a sad note, our condolences to the family of Danny Gans, may he rest in peace.

To find your home, to help sell your home, or just to learn more please click the “Contact Me!” link in the sidebar.  You can also call the number at the top of the page. Friday Figures is published by Bridget Magnus on BridgetMagnus.com and is her property, even though any GLVAR Realtor can access this data.