New listings: 1 (1)

Active Listings: 19 (18)

Sold subject to inspection: 0 (0)

Pending: 0 (0)

Closed Sales: 0 (0)

Number of Price Reductions: 4 (1)
———————————–
Number of homes available: 19 (18)

0-$349,999: 0 (0)

$350,000-$499,999: 3 (2)

$500,000-$749,999: 6 (6)

$750,000-$999,999: 6 (6)

$1,000,000- $1,499,999: 2 (2)

$1,500,000- $2,999,999: 2 (2)
———————————–
Average Price: $713,632 ($728,294)
Median Price:   $629,000 ($694,995)

Average Days on Market: 70 (67)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $419,000 (same)

(data from NWMLS)

My analysis of this week’s real estate buzz:

Activity in the Highlands has been similar the last few weeks.  The less encouraging news is there have been no sales in the last several weeks. 

The better news is the inventory of  homes  in the Highlands has only increased by one home this past week.  The new listing is priced in the 500k range.  The homes priced under the 500k show an increase from 2 to 3 homes because a home that had been listed for a few weeks was reduced to $475,000, dropping it down into this price category.  This week’s new listing took its place in the $500-749,000 range, keeping the number of available homes in this price range at 6 homes.

We’ve had a few more price reductions as sellers realize how important it is to get ahead of the competition to be the home that receives the offer.  The price reductions ranged from 1.5% to 7% from the original asking prices.

Our daily hot sheet for all eastside activity showed  more price reductions than new listings for the first time in a very long time.  Unfortunately, I cannot track how long ago the number of reductions was higher than new listings.  I do  believe the data isn’t easily traced, although I will do my best to find it! Today there were 749 new listings and 764 price reductions.  This is a significant change and is a telling piece of information about the eastside real estate market.  Do not give up hope, though, as 297 homes on the eastside received offers this past week.

Remarks in red show last week’s activity

New listings: 1 (0)

Active Listings: 18 (18)

Sold subject to inspection: 0 (0)

Pending: 0 (0)

Closed Sales: 0 (1)

Number of Price Reductions: 1 (1)
———————————–
Number of homes available: 18 (18)

0-$349,999: 0 (0)

$350,000-$499,999: 2 (2)

$500,000-$749,999: 6 (7)

$750,000-$999,999: 6 (6)

$1,000,000- $1,499,999: 2 (2)

$1,500,000- $2,999,999: 2 (1)
———————————–
Average Price: $728,294 ($717,808)

Median Price: $694,995 ($639,990)

Average Days on Market: 67 (67)

Highest Priced Listing: $1,825,000 (new listing)

Lowest Priced Listing: $419,000 (same)

(data from NWMLS)

My analysis of this week’s real estate buzz:

The last week of August and the first of September can be slow real estate weeks with people finishing vacations and getting kids to school.  I think the time of year has had a strong affect on market activity.

The number of listings remains the same, with one new listing and one cancelled and off the market.  The new listing is priced at $1,825,000 and is one of two new construction view homes.  The home is almost complete and has just been listed as a new listing.  The neighboring home has been on the market since May.  This past week this home was reduced by $100,000 to $1,795,000 from $1,895,000. Previously, this was the most expensive listing in the Highlands.

There’s been little change in the activity since last week. Ler me know if you would like other information or if you have any comments.  Have a great week!