Numbers in red reflect last week’s totals. New totals are through mid-afternoon on Friday, the 14th, and are collected from NWMLS  data.

New listings:  0(2) 

Active Listings:   26(27)

Sold subject to inspection:  1(1)

Pending:  2(1)

Closed Sales:   0(2)

Contingent sale: 0(0)

Number of Price Reductions:  0(1)

Cancelled listings 1(0)

Expired Listings 0 (1)

———————————–
Number of homes available:    26(27)

0-$349,999:   0(0)

$350,000-$499,999:   1(1)

$500,000-$749,999:    6(6)

$750,000-$999,999:   10(11)

$1,000,000- $1,499,999:   6(6)

$1,500,000- $2,999,999:   3(3)
———————————–
Average Price: $1,004,478 ($995,756)
Median Price:   $879,258 ($877,335)

Average Days on Market: 79(74)

Highest Priced Listing: $2,299,950 ($2,299,950)

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

(data from NWMLS)

My analysis of this week’s real estate buzz:

One home sold this week in the Highlands.  The home had been on the market for almost a year, 337 days!  It was a bank repossession and had dropped in price by almost $75,000 before receiving an offer.  This is one of the longest market times in the area for a home that is not new construction. Average market time has crept up in The Highlands, but still is in the 70+ day range. 

There were no sales that closed this week, but two homes moved past the inspection process and are now pending.  One home was reduced by $25,000, which was about a 5% reduction. The other home was reduced by $50,000, a 7% reduction. 

A home in Highland Creste, priced at $769,000, went off the market this week.  It should be coming back on the market as a new listing soon as a relocation company has taken over the sale of the home.

There have been quite a few changes in the town home/condo listings this week.  A listing in Highland Pointe, which is a planned unit development more like a single family neighborhood, was cancelled after being on the market for over 6 months.  A Michigan Station town home priced at $445,000 was also cancelled.  

Because of a price reduction, there are now two listings in Kirkland Highpointe under $600,000 for the first time in a long time.   The best priced town home in The Highlands is the town home in Moss Bay Crest, which was reduced by 4% to $419,500. 

The buyers who are out now are serious buyers who do understand there are some great choices in all price ranges out there.   There are some of the best values we have seen in a long time out in the marketplace right now.