Numbers in red reflect last week’s totals. New totals are through mid-afternoon on Friday, the 16th, and are collected from MWMLS data.

New listings:  1(1) 

Active Listings:   27(28)

Sold subject to inspection:  0(0)

Pending:  0(0)

Closed Sales:   0(0)

Contingent sale: 1(0)

Number of Price Reductions:  1(2)

Cancelled listings 0(1)

Expired Listings 1 (1) Re-listed and on the market
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Number of homes available:    27(28)

0-$349,999:   0(0)

$350,000-$499,999:   2(2)

$500,000-$749,999:    5(6)

$750,000-$999,999:   11(11)

$1,000,000- $1,499,999:   5(5)

$1,500,000- $2,999,999:   4(4)
———————————–
Average Price: $1,006,791 ($1,008,421)
Median Price:   $853,050 ($873,550)

Average Days on Market: 64(56)

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 number of active listings dropped by one home that is now sold contingent.  When a  home is sold contingent, it means the buyer has a property to sell to obtain the money needed to close on this particular home.  Technically, the home  sold contingent is still available to other buyers. However, buyer number one has “first right of refusal” if another offer were to come in for this property. If buyer number one can perform without the sale of their present home, then this buyer would still be the buyer to get the home.  If buyer number one could not perform without selling his/her current home, then buyer number two would get the home. 

There hasn’t been a contingent sale in the neighborhood for quite some time.  We’ve seen contingencies over the last few years more for new construction, but not for a resale home.  This change is consistent with our change in market conditions and the need for sellers to be more flexible with offers they receive.

The home with the reduced price dropped its asking price by 10%, approximately $60,000.

The town home data is the same as last week as there have been no new listings, price reductions or sales.

 Due to the Thanksgiving holiday next week, the next weekly stats report will be in two weeks.  Have a great Turkey Day!