There are 77 Condo and Townhomes listed for sale today (excluding 2 with silly prices) - priced from: $74,900 to $360,000 (with an average price of: $144,153 / $107 per Square Foot).
Since 9/1/2008 (46 days) there have been 7 pending sales - and 10 closed sales.
The list prices of the pending sales ranged from: $79,900 to $267,990 (average at: $139,678 / $102 per Sq')
The sold units sold from: $160,000 to $242,900 (average at: $196,712 / $131 per Sq')
Based on the rate of sales - we have almost 12 months of standing inventory.
Between 5/1/2008 and 7/1/2008 9 Condo / Townhomes sold - indicating an improvement in the rate of sales; with the range of prices then of: $112,500 to $240,032 (average at: $200,409 / $126).
I don't get it why would someone pay about $200,000 for a condo or townhome when there are 150 homes in Moreno Valley now priced at $100,000 or less.
Beverly
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