Monday Morning Market Report – Week Ending 11/15/2009

Monday Morning Mkt Rpt Nov 15The summary for the sales statistics this week are as follows:

Listings were up but only by 2, there weren’t any newly contingent sales, the number of both pending and closed sales were the same as last week and there were almost an equal number of price reductions.

The big news of the week was a one million dollar price reduction on a waterfront home in Ortega that I wrote about yesterday. Another home that was priced in the 400’s went under contract. That’s the 8th house between $399K – $725K that’s gone under contract in the last 8 weeks.

When you consider that only 12 homes in that price range have sold in ALL OF 2009, to have 8 go under contract in the last 8 weeks is an amazing increase in activity!

So…. the weekly tally for the week ending Nov. 15th is:
New Listings:     10
Contingent Sales:   0
Pending Sales:      6
Closed Sales:       2
Price Reductions:     17

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