SCV Market Update....

Average Sale Price at this time, 2007: $551,100 

Current average sale price: $458,081 

Bottom line: The average sales price is down approximately 17 percent from last year. 

Average Days on Market of Sold Homes at this time, 2007: 108 

Current average days on market: 78 

Bottom line: Homes that have sold this year have been on the market 30 days less, or are selling 28 percent faster, this year. 

Total Closed Sales at this time, 2007: 1,966 

Year to date, 2008: 1,543 

Bottom line: There have been 423 fewer sales this year, or 22 percent fewer sales.