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Monday Morning Market Update-May 4, 2009

PACIFICA, CALIFORNIA

Active Listings
-71 Single Family Homes
14 New Listings this week. This is the biggest week to date for new listings.
Pending Sales-47 Single Family Homes with the highest list price of $1,395,000.
6 Properties went Sale Pending this week and one was listed for $1,099,000.
61 Closed Sales since January 1, 2009 with the highest list price of $899,999.
7 Homes Closed this week. All were listed for under $600,000
These 61 homes closed between $179,000 and $899,999.
For the first time, new listings were over double the amount of homes that went pending, accounting for more total Active Listings then we have seen over the past few months.

HALF MOON BAY through MONTARA, CALIFORNIA
Active Listings-151 Single Family Homes
9 New Listings this week.
Pending Sales-26 Single Family Homes with 8 listed for over $1,000,000.
6 Properties went Sale Pending this week. One was listed at $1,299,000 and was a short sale.
22 Homes Closed since January 1, 2009 with only 1 that was listed over $1,000,000
4 Homes Closed this week. The highest sales price was $915,000.
These 22 homes closed between $155,000 and $1,150,000.
74 Active Listings are listed at over $1,000,000 which is almost half of the inventory.
The good news is that currently over 25% of the Pending sales were listed for over $1,000,000. This is the first time we have seen the higher priced end of the market go sale pending.

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