The month of March came to a close last week and the
The not so good news is current homeowners continue to see the median sale price decline 20% from March 2008. Of the 25 properties sold in March seven of were purchased at or above the list price, the median accepted offer was 97% of the list price. I think that this shows a leveling in the market. As the percentage of list to sale gets closer it shows that buyers are finding pricing they find to be a good value.
The month also recorded a million dollar sale, 123 Old Castle sold for just $10,000 less than the asking price of $1,295,000. The largest overbid came in at 116% of the asking price. A condo, 1629 Foley, sold for $230,000 more than $30,000 over the asking price. The lowest offer was 1514 Minturn that only received 63% of the asking price of $380,000.
April will be a pivotal month; if sales are in the 20-30 range then I think the market will continue to lag well into 2009. If we see a jump from March to April then the traditional selling season will be off to a good start.
| | Address | Listing Price | | % |
| 04-Mar-09 | | $ 199,000.00 | $ 230,000.00 | 116% |
| 06-Mar-09 | | $ 239,000.00 | $ 225,000.00 | 94% |
| 06-Mar-09 | | $ 748,000.00 | $ 688,000.00 | 92% |
| 06-Mar-09 | | $ 484,900.00 | $ 465,000.00 | 96% |
| 09-Mar-09 | | $ 489,000.00 | $ 489,000.00 | 100% |
| 09-Mar-09 | 1011 BROADWAY | $ 419,900.00 | $ 390,000.00 | 93% |
| 12-Mar-09 | | $ 699,000.00 | $ 633,000.00 | 91% |
| 12-Mar-09 | | $ 169,900.00 | $ 165,000.00 | 97% |
| 13-Mar-09 | 104 SABLE PT | $ 699,000.00 | $ 690,000.00 | 99% |
| 13-Mar-09 | | $ 599,000.00 | $ 625,000.00 | 104% |
| 17-Mar-09 | | $ 159,900.00 | $ 150,000.00 | 94% |
| 18-Mar-09 | | $ 649,000.00 | $ 625,000.00 | 96% |
| 19-Mar-09 | 760 | $ 625,000.00 | $ 590,000.00 | 94% |
| 19-Mar-09 | | $ 609,000.00 | $ 575,000.00 | 94% |
| 20-Mar-09 | | $ 839,000.00 | $ 815,000.00 | 97% |
| 20-Mar-09 | | $ 549,000.00 | $ 540,000.00 | 98% |
| 23-Mar-09 | 325 SUNSET ROAD | $ 525,000.00 | $ 555,000.00 | 106% |
| 25-Mar-09 | | $ 380,000.00 | $ 241,000.00 | 63% |
| 25-Mar-09 | | $ 1,295,000.00 | $ 1,285,000.00 | 99% |
| 26-Mar-09 | | $ 407,900.00 | $ 408,000.00 | 100% |
| 27-Mar-09 | | $ 499,000.00 | $ 500,000.00 | 100% |
| 30-Mar-09 | 1708 BROADWAY | $ 539,000.00 | $ 539,000.00 | 100% |
| 31-Mar-09 | | $ 353,000.00 | $ 350,000.00 | 99% |
| 31-Mar-09 | | $ 405,000.00 | $ 375,000.00 | 93% |
| 31-Mar-09 | | $ 439,000.00 | $ 420,000.00 | 96% |
| | Median | $ 499,000.00 | $ 500,000.00 | 97% |
| | March 2008 Median | | $ 625,000.00 | |
| | | | | |
| | | Y-Y Difference | -20% | |
| | | | $ 502,720.00 | |
