Archive for October, 2009

A Tale of Two SF Septembers

September 2007 ~ September 2009

4,073 ~ Properties for Sale ~ 3,226 (20% less)
447 ~ Under Contract ~ 648 (45% more)
447 ~ Sold ~ 492 (10% more)
$761,000 ~ Median Sales Price ~ $641,000 (16% less)
38 ~ Days on Market ~ 53

Which means even though there’s less inventory to choose from (contrary to popular belief), month’s supply of inventory is down nearly 50% from Sept 2007, Buyers are taking their sweet time – evidenced by the significant increase in average days on the market.
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How Many Listings Go Pending Within 30 Days?

In the last 6 months:
  • 37% of SFDs (that sold) went pending within 30 days and those sales closed on average at 102.5% of list price
  • 24% of Condos (that sold) went pending within 30 days and those sales closed on average at 99% of list price
  • 16% of TICs (that sold) went pending within 30 days and those sales closed on average at 99% of list price
  • 60% of REO SFDs (that sold) went pending within 30 days and those sales closed on average at 106.6% of list priceTo go pending within 30 days, typically a listing would ratify within 15 days of going on market.
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