The number of listings in the Active status at 414 is the highest I can recall from the time that I’ve been saving these surveys.
While the number of listings in the Pending status is up over the previous three years at this time, the number continues to be skewed by the increasing number of distressed sales. It appears to me that those who are purchasing this type of property seem to believe they are getting a “deal”. Of the 221 total Pending sales 61 (28%) are listed as Short Sales. 20(9%) of the total Pending Sales are banked owned (REO). A total of approximately 37% of the Pending sales are distressed sales. When compared to the number of closed transactions, these transactions can best be described as “Wishful thinking.”
The number of month-to-date Closed transactions is up slightly from last year, but down from 2008. With 89 Closed transactions so far this month, 9 (10%) are Short Sales and 1 (less than 1%) is an REO. So to put it bluntly more than 1/3 of the Pending sales are distressed sales while slightly more than 1/10 of the Closed transactions, where the “rubber meets the road” were distressed sales.
The link to the spreadsheet above is for single family residences only on the date posted and for the communities listed. Any link identified in this blog as a “Spreadsheet” is basically the same but for different time periods.
The link above to the Chart is intended to give a visual historical representation of the same communities comparing the current time period with the same time periods for the previous three years.
The link to the spreadsheet above is one of the newly expanded postings. It is set up similarly to the other basic spreadsheets but with data only applying to those homes listed in MLS as Short Sale. Please note that this spreadsheet now includes Maximum, Median and Minimum pricing for properties in the Active, Pending and Month-to-date listing statuses. In the Sold Status, the number of properties that sold at or above the asking price are noted, as well as the price differentials for the Maximum, Median and Minimum priced homes.
The link to the spreadsheet above is another one of the newly expanded postings. It is set up similarly to the other basic spreadsheets but with data only applying to those homes listed in MLS as a REO (Bank Owned). Please note that this spreadsheet now includes Maximum, Median and Minimum pricing for properties in the Active, Pending and Month-to-date listing statuses. In the Sold Status, the number of properties that sold at or above the asking price are noted, as well as the price differentials for the Maximum, Median and Minimum priced homes.
The three spreadsheets links listed above contain the three-year historical raw data that is used in the July 25, 2010 Chart above.
The link to the 2004 Spreadsheet above is provided for historical perspective. 2004 was the year between 1999 to date that had the greatest number of homes and condominium/townhome closed sales in all of San Mateo County.
