Our Fall Selling Season is in full swing as Pending sales are consistent in Pacifica and increasing from Half Moon Bay to Montara with last week’s sales being the highest in the last 30 days. The under $700,000 market is the most active.
The homes that closed this week were evenly divided with half that were listed over 1 Million and half listed between $550,000-$750,000. Pacifica had no closed sales this week but did have 6 properties go sale pending. Both Pacifica and the Half Moon Bay to Montara areas each had 6 new listings.
In talking to buyers at open houses this weekend, the price ranges they are looking in are up to 1 Million. Good news for the large number of sellers of high end properties.
Still a Buyers Market – HALF MOON BAY through MONTARA, CALIFORNIA with 14.7 months supply. This is a continuing decrease from past weeks.
Still, just under half of the listings are listed at over 1 Million and 10% at $600,000 or less. The low end of those listings are located at Martins Beach which continues to attract buyers even though the properties will have to be abandonded in 12 years. 7 new Pending Sales this week.
Active Listings-130 Single Family Homes with 55 listed at $1 Million or more.
6 New Listings this week with 4 listed for over $1,000,000.
Pending Sales-38 Single Family Homes with 12 listed for under $600,000 and 5 over 1 Million.
7 Properties went Sale Pending this week.
80 Homes Closed since January 1, 2009 with only 14 that closed over $1,000,000 and 15 between $800,000 and 1 Million and 11 listed at $500,000 or less. 7 homes closed this week with 4 listed over 1 Million.
Sellers Market with few Homes for Sale – PACIFICA, CALIFORNIA with 2.7 months supply. Inventory held steady this week.
Statistics remain consistent another week with the current number of Active Listings divided by the average number of homes sold YTD, there is 2.7 months of inventory of Active listings. 6 new listings this week half listed under $600,000.
Active Listings-51 Single Family Homes. 11 listed at $900,000 or higher and 11 listed under $600,000.
Pending Sales-56 Single Family Homes with 19 listed under $500,000 and 20 listed between $500,000 and $600,000.
6 Properties went Sale Pending this week with4 listed under $600,000
172 Closed Sales since January 1, 2009 with 6 that were listed for over 1 Million. 74 sales were from homes listed at $500,000 or less.
NO new sales this week.
ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market