More of the same with market about half of what it was last year
New listings 12 (23) – running about half of last year
New Pendings of 19 (39) – multiple over asking buyers
Thats -7
Closed sales at 11 –
Total houses for sale 25 (49) with median of $2.35M ($1.99M)
Not as much overbidding on this weeks closings but may reflect the homes (more fixers then weve seen in a while). It looks like we are starting to get more of the bread and butter 4/3 2200 to 3000 sq ft homes than weve had in a while which should cause those prices to rise with bidding wars. It seems like yesterday those were 750 to 900. Now they are 1.4 to 2M up here
It seems like the market is competitive up into the 2.5 range and slows down some between 2.5 and 4M . There doesnt seem to be true relief from competition until you get to around $4M.
Side note, my client that is buying here will be putting his place up in OC on market mid March. Will be interesting to hear how it goes. Ill update once it does but suspect market there is much like here
