Numbers in red reflect last week’s totals. New totals are  through mid-afternoon on Friday, the 2nd.

New listings:  1(8) plus 1 re-listed, 1 back on the market

Active Listings:   29(30)

Sold subject to inspection:  1(2)

Pending:  0(1)

Closed Sales:  0 (0)

Number of Price Reductions:  4 (1)

Cancelled listings 1(1)
———————————–
Number of homes available:    29(30)

0-$349,999:   0(0)

$350,000-$499,999:   2(4)

$500,000-$749,999:    6(9)

$750,000-$999,999:   12(7)

$1,000,000- $1,499,999:   5(3)

$1,500,000- $2,999,999:   4(4)
———————————–
Average Price: $973,846 ($924,079)
Median Price:   $860,800 ($851,025)

Average Days on Market: 61(58)

Highest Priced Listing: $2,299,950 ($1,825,000)

Lowest Priced Listing: $460,000($460,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

The past week’s buzz is posted just a bit late this time! This week there is one true new listing.  One home is back on the market after having received an offer the previous week.  Another listing, which is a land buy, was cancelled at $725,000, and re-listed as a new listing at $659,000. A home received an offer this past week after being reduced by $25,000 from $500,000. 

The new listing that came on the market this week is now the most expensive home for sale in the Highlands, priced at $2,299,950.  It’s an ultra-contemporary home with a fabulous unobstructed view of the lake and the city.  

 Four listings had price reductions this past week.  Reductions in price ranged from 3% up to 10%. 

 Over in the condominium/town home market, a listing in Forbes Creek was reduced from $440,000 to $425,000.  It’s now the least expensive home in this class, coming in under a town home/free-standing home that is priced at $435,000.

The market in the neighborhood remains competitive.