Lake Arrowhead, Crestline and Running Springs Real Estate - Weekly Market Update (08/03/08 through 08/09/08)

Greg and Michelle Steffens
909.336.7971 direct | 909.534.8183 cell | info@gregsteffens.com

WEEKLY MARKET UPDATE
(08/03/08 through 08/09/08)

We're seeing some mild up and down movement in the market this past week, though on the whole, things are still looking up (in my opinion).

New listings were back up over last week to 44 (up 11 over last week), bringing the entire inventory of single family residences currently on the market (from Crestline, through Lake Arrowhead and including Running Springs) to 1069 listings (up 11 from last week).

There are 99 homes currently in escrow and 12 homes sold (same as last week). Days on market dropped down again to 131 days and the list to sale percentages came back up some to 93.6%.

But check this out: the median sales price this last week MOUNTAIN-WIDE was $167,987.50! If that isn't proof that the low-end is selling, I don't know what is!!!

Again, I contend, that this is showing that we are in the birthing stages of a recovering market...increased buyers, low-end movement. Stayed tuned, I believe this is a trend that we will watch continue and grow, hopefully into the higher price ranges.

ARROWHEAD WOODS

New Listings	19
Median Price	$489,000
Price Range	$300,000 - $1,650,000

Active Listings	462
Median Price	$549,000
Price Range	$199,000 - $5,995,000

Pending Listings	26
Median Price	$388,900
Price Range	$225,000 - $1,637,000

Sold Listings	2
Median Price	$277,500
Price Range	$275,000 - $280,000
Avg. Days on Market	47.5
Avg. List To Sale %	96.7%

LAKEFRONT HOMES

New Listings	1
Median Price	$1,500,000
Price Range	$ - $

Active Listings	37
Median Price	$2,950,000
Price Range	$899,000 - $10,500,000

Pending Listings	2
Median Price	$1,324,950
Price Range	$824,900 - $1,825,000

Sold Listings	0
Median Price	$
Price Range	$ - $
Avg. Days on Market
Avg. List To Sale %	%

SURROUNDING COMMUNITIES
(ARROWHEAD VILLAS, CEDAR GLEN, CREST ESTATES, CREST PARK,
DEER LODGE PARK, RIM FOREST, SKYFOREST, TWIN PEAKS)

New Listings	5
Median Price	$324,900
Price Range	$225,000 - $920,000

Active Listings	182
Median Price	$249,000
Price Range	$85,000 - $1,997,000

Pending Listings	16
Median Price	$169,000
Price Range	$100,000 - $799,000

Sold Listings	2
Median Price	$132,450
Price Range	$50,000 - $214,900
Avg. Days on Market	257.0
Avg. List To Sale %	91.4%

CRESTLINE

New Listings	11
Median Price	$249,900
Price Range	$105,000 - $479,900

Active Listings	181
Median Price	$249,000
Price Range	$70,900 - $799,000

Pending Listings	28
Median Price	$178,450
Price Range	$34,900 - $444,900

Sold Listings	3
Median Price	$90,000
Price Range	$64,000 - $310,000
Avg. Days on Market	113.7
Avg. List To Sale %	93.3%

RUNNING SPRINGS AREAS
(RUNNING SPRINGS, ARROWBEAR, GREEN VALLEY LAKE)

New Listings	8
Median Price	$149,4500
Price Range	$70,00 - $425,000

Active Listings	207
Median Price	$259,000
Price Range	$49,900 - $4,600,000

Pending Listings	27
Median Price	$155,000
Price Range	$83,000 - $699,900

Sold Listings	5
Median Price	$172,000
Price Range	$119,000 - $245,000
Avg. Days on Market	105.8
Avg. List To Sale %	92.9%

* ALL FIGURES TAKEN FROM THE RIM O' THE WORLD MULTIPLE LISTING SERVICE AND ARE DEEMED RELIABLE, BUT NOT GUARANTEED.