Monday, October 1, 2012


For the last complete month available, the total number of sales was 3,351.  That number includes single-family, condos, and new homes.  The median price was $453,000 and that was up 1.8%.  The increase of sales over the previous month was 13.7%.  The median price for single-family came in higher at $515,000.  That was an increase of 2% from last year.  Condos rose over 10.4% in median price from a year ago with $295,000.  Even new homes saw an increase in value of 4.5% with a median price of $617,750.  All categories saw double-digit increases in volume except new home sales which declined 22.56% from a year ago.  Notice of Default, which had been steadily declining, actually rose in last month to 1005, about a 10% increase.  Notices of Trustee Sale also rose slightly after plummeting in the early summer months by almost 50%.  The tally for those was 1,443.  There were 394 properties that actually went to Trustee Sale; of those, 205 were purchased by private investors, look for those properties to be rehabbed and flipped as stated above.  The other 189 properties went back to the banks, and their fates will be similar, eventually making it to the market place.  Given the current market climate, they will be quickly absorbed.


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