The numbers are in for December 2008 and the trend remains the same…Numbers are DOWN! In a positive light, this means that opportunities are endless and if you are a buyer, it’s your market for sure. Foreclosure continue to hit the market at a pretty fast rate in the Condos under $500K, but if you have been keeping up with our blogs you know that the have creeped into the single family residences and multi-million dollar categories as well. With the foreclosure you have to be ready to act. If you are out of town, you will need to place a lot of trust in your Realtor, make sure you choose one that will act in your best interest, have video and other technology to make the experience as painless as possible and like you were (virtually) there.
Number of Total Active Units on the Market as Compared to December 2007
Condominiums are down by -7%
PUD’s or Freestanding Condos are down only -2%
Single Family Residences are up 8%
Investment Properties are down -200%
Number of Escrows as Compared to December 2007
Condominiums are down by -150%
PUD’s or Freestanding Condos are down -233%
Single Family Residences are down -67%
Investment Properties remain the same at 0
Number of Total Sales Compared to December 2007
Condominiums are down by -80%
PUD’s or Freestanding Condos are up 50% (Don’t get too exicted, it’s only 1 more than 2007)
Single Family Residences are down -83%
Investment Properties are up 100% (Again, only 1 sale over the reported 0 from 2007, nothing to write home about)
To see details of the month and view absorption rates for individual price points and categories, click here.
Wanna compare November 2008 Stats with December 2008??? Why Not?
Number of Total Active Units on the Market as Compared to November 2008
Condominiums are down by -11%
PUD’s or Freestanding Condos are the same
Single Family Residences are down -14%
Investment Properties are the same
Number of Escrows as Compared to November 2008
Condominiums are down by -100%
PUD’s or Freestanding Condos are down -133%
Single Family Residences are the same
Investment Properties remain the same
Number of Total Sales Compared to November 2008
Condominiums are up 40%
PUD’s or Freestanding Condos are the same
Single Family Residences are up 83%
Investment Properties are up 100%
