Market update for 5/17/08-5/27/08

Due to the Memorial Day weekend, I compiled all of the new active listings and new ones under contract from where I left off last. So this group is for a 10 day period instead of a week. And it looks like this:

Active listings:

Under $200,000 - 3
$201-249,999 - 15
$250-299,999 - 31
$300-349,999 - 7
$350-399,999 - 11
$400-499,999 - 8
Over $500,000 - 18

Newly under contract:

Under $200,000 - 7
$201-249,999 - 17
$250-299,999 - 12
$300-349,999 - 7
$350-399,999 - 11
$400-499,999 - 3
Over $500,000 - 5

I notice that there are a lot of new listings in the $200's again - this time period is even more heavily weighted in the upper half of that price bracket, compared to almost an even split last time. And there are double the number of new listings over $500K! You'll notice in the "under contract" portion though that over $500,000 is still a very tough bracket with only 5 new sales. It looks like this last time period saw good activity as far as new pendings in the $200's and also in the upper half of the $300's.

So good news to see 62 listings go under contract during this time period - but the new ones are still coming on the market even faster with a total of 93 new listings. Still mostly a buyer's market - although I did see a multiple offer situation last week on a brand new listing!