Monday Morning Market Update – Week Ending January 3rd, 2010

January 3rd
Click Here to See Graph

Good Morning Everyone! Happy New Year. Hope this post finds you ready for a great 2010!

The market stats this week show a continued trend for fewer new listings as well as continued strength with pending and closed sales — good news!

The more weeks we can string together like this the better. Fewer new listings + more closed sales = a recovering market. As inventory decreases, there is more demand and less supply which will help stabilize the market.

Please read below for the highlights of the week.

 

The weekly stats are:
New Listings =  5  (One of these is a re-list so there are really only 4 New Listings)  (Click Here to see List)
Active/Contingent = 0  (Click Here to See List)
Pending =  6   (Click Here to See List)
Closed Sales = 7  (Click Here to See List)
Price Reductions =  5  (Click Here to See List)

3692 Hollingsworth Kitchen
3692 Holligsworth - Kitchen

The Listing of the Week is a darling 3Br/2Ba bungalow in Avondale on Hollingsworth. Totally renovated with a new kitchen, new master suite, gleaming hardwoood floors and a one car garage, this house is priced at only $134 per square foot!

A thorough review of price changes doesn’t reveal anything worth shouting out about so that’s a wrap for this week.

Thanks for reading. I look forward to sharing the great real estate news of 2010 that many are expecting in Avondale, Ortega and Riverside!