This last week we had 550 units showing as either Active or Under Contract, from which, 66.18% (364) listings were Active, 22 condos as  new listings (4%), 39 condos as Continue to Show (7.09%).

19 Condos (3.45%) showed a reduction in price, and 84 condos (15,27%) went under contract.

The average median listing price this week was $441,244.

It is interesting to take a look at the different Median Listing Prices. As you can see, MLP from high to low follows this order:

1. Condos Under Contract (Sale Pending),
2. Active Condos,
3. Condos (New Listings),
4. Continue to Show
5. Reduced Price.
   

I would infere from these figures that new listings show some more adjusted prices. Sellers seem to be adjusting their expectations to what the market is actually expecting: They priced their properties above those properties that already have offers (CTS - Continue to Show) and below what is currently on the market.

Nestor N. Romero

www.HomesByNestor.com