With June and the end of our season just around the corner, it’s probably too late to pull one out of the hat, but with 83 homes now under contract it looks as if it'll at least be a lively finish.
83 homes under contract is more than we’ve seen in recent times. And more surprising still is they’re not all huddled at the low end of the market.
24 are Pending COE. So all contingencies have been satisfied, and these deals are headed for close of escrow.
8 of them, or 33%, are priced above the median list ($649K)and 6 of those are above a million. The remaining 16 are priced between $279,900 to $559,000. The average list price of this group is $761,217, vs. an average list of $569,799 for everything sold Jan 1 through April 30.
59 are Active Contingent. These are still in the inspection period, and, subject to cancellation due to inspection issues, or at the sole discretion of the buyer, or, due to financing or appraisal contingencies and who knows what else. So, while not a sure thing, they show good intent and agreement on price and terms. Things that have been hard to come by this year.
Of these, 18, or 30%, are above the ($649K) median list and 6 are above a million. The remaining 51 are priced $200,000 to $559,600.
The average list price of this group is $575,983.
Looking at the million+ market; since Jan 1 just 16 homes have sold at a million or more. So now with 12 in escrow, and I think more to come, we stand a decent chance of at least matching the 35 million+ homes that sold last year. We’ll see.
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