As of April 30:
27 properties have closed which is consistent with the average closed sales for the last 6 months.
Most of the action – 16 were below $1m
6 were between $1m to $2m
5 were over $2m (1 was a $3m short sale, 2 were in Emerald Bay at $5.4m and 1 was $3.8m in North Laguna)
3 of the 22 sales were condos
2 closed sales were short sales and 4 were foreclosures
Offers that have been accepted:
New sales activity has slowed this month with 24 homes going into escrow thus far.
10 are below $1m, 9 are between $1m and $2m, and 5 are above $2m ($4.5m, $3.2m, $3.6m, $3.1m and $6.2m)
Homes on the market
The number of listings ‘for sale’ has steadily increased to 343 properties. 167 are over $2m.
For sfr’s less than a million there is 2.2 months inventory based on the current sales rate.
6 months inventory for homes between $1m to $2m
There are 5 properties in foreclosure for sale which is consistent with the last couple months.
There are 32 short sale listings, which is a slight increase.
80 properties (23% of homes for sale) had price decreases month to date, which is trending up a bit