Lake Arrowhead, Crestline and Running Springs Real Estate - Weekly Market Update (09/07/08 through 09/13/08)

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

WEEKLY MARKET UPDATE
(09/14/08 through 09/20/08)

Today is Wednesday, not Monday, and I'm aware that this is a couple days late...sorry. Michelle and Haley and I had the opportunity to "get off the rock" for a few days of vacation, so we took it! But, back to the grind and here are some exciting numbers for the past week's activity:

This last week, in Arrowhead Woods, there were 22 new listings...that's almost as many as the total mountain had the week prior to that! As a matter of fact, there were 43 new listings mountain-wide - that's a huge number (up from 28 the week before).

Last week I said there was a "whopping 14 houses sold." I should have saved my "whopping" comment for this week...23 houses sold. The average days on market are still well under 100 days and the average list to sale percentage was a respectable 93.2%.

Total inventory is at 1049 units (single family residences only). Homes in escrow dropped a bit from 106 to 92.

There's a hint of hesitation in the market with the latest media coverage of the stock market, but many are finding that now is the time to act - apparently both to list AND to buy. Interesting days are ahead....

ARROWHEAD WOODS

New Listings	22
Median Price	$572,450
Price Range	$229,000 - $5,995,000

Active Listings	442
Median Price	$548,250
Price Range	$199,000 - $5,995,000

Pending Listings	38
Median Price	$382,000
Price Range	$95,000 - $899,000

Sold Listings	7
Median Price	$476,000
Price Range	$223,000 - $1,497,000
Avg. Days on Market	238.3
Avg. List To Sale %	90.6%

LAKEFRONT HOMES

New Listings	1
Median Price	$3,200,000
Price Range	$ - $

Active Listings	38
Median Price	$2,950,000
Price Range	$899,000 - $9,950,000

Pending Listings	2
Median Price	$3,222,500
Price Range	$2,495,000 - $3,950,000

Sold Listings	1
Median Price	$2,283,000
Price Range	$ - $
Avg. Days on Market	9
Avg. List To Sale %	91.4%

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

New Listings	9
Median Price	$249,000
Price Range	$94,900 - $900,000

Active Listings	179
Median Price	$249,000
Price Range	$74,900 - $1,779,000

Pending Listings	16
Median Price	$177,400
Price Range	$129,000 - $299,000

Sold Listings	5
Median Price	$191,000
Price Range	$125,000 - $225,000
Avg. Days on Market	88.2
Avg. List To Sale %	95.1%

CRESTLINE

New Listings	4
Median Price	$198.200
Price Range	$104,900 - $365,000

Active Listings	174
Median Price	$247,000
Price Range	$64,500 - $799,000

Pending Listings	21
Median Price	$168,000
Price Range	$49,900 - $349,000

Sold Listings	4
Median Price	$191,155
Price Range	$107,000 - $330,000
Avg. Days on Market	19.0
Avg. List To Sale %	93.0%

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

New Listings	7
Median Price	$219,900
Price Range	$125,000 - $529,000

Active Listings	216
Median Price	$254,950
Price Range	$55,000 - $4,600,000

Pending Listings	15
Median Price	$169,900
Price Range	$49,900 - $515,000

Sold Listings	6
Median Price	$234,000
Price Range	$70,000 - $675,000
Avg. Days on Market	65.3
Avg. List To Sale %	96.1%

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