Monday Morning Market Update October 19, 2009 Wk#42

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity.

Active Listings-120 Single Family Homes. 52 listed over 1 Million, 15 listed at $900,000 to 1Million.Pending Sales-41 with 11 listed under $600,000 and 10 listed over 1Million
93 Homes Closed since January 1, 2009 with only 14 that closed over $1,000,000 and 10 between $900,000 and 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 191 and active listing at 56, Pacifica continues to be a Seller’s market.

Active Listings-56 Single Family Homes. 8 listed at $1,000,000 or higher and 17 listed under $600,000.
Pending Sales-52 Single Family Homes with 20 listed under $500,000 and 15 listed between $500,000 and $600,000. 8 Properties went Sale Pending this week with 3 listed under $500,000
191 Closed Sales since January 1, 2009 with 8 that were listed for over $900,000. 107 sales were from homes listed at $600,000 or less. 4 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