[quote=pemeliza]CAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443
Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.[/quote]
pemeliza,
It depends greatly on the neighborhood. Surprisingly, some of the areas that have seen the greatest declines are still showing a greater number of foreclosures.
In our area, the “forclosed and sitting for months/years” inventory is pretty small compared to listed inventory; maybe 1/4 to 1/3 of the size of listed inventory in certain areas, even less than that in others.
