Lake Arrowhead, Crestline and Running Springs Real Estate - Weekly Market Update (10/05/08 through 10/11/08)

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

WEEKLY MARKET UPDATE
(10/05/08 through 10/11/08)

Numbers are declining across the board, pretty much....total inventory is down another 10 or so to 990 units and houses in escrow are down to 86. Only 5 properties sold this past week, though there were 40 new listings.

The 5 properties that sold averaged only 76.9 days on market, though the list to sell percentage was way down (due to one house in Running Springs that was listed for $515,000 and sold for $360,000 - or 69.9% of the list price). Including that sale, the list to sell percentage for last week was 93%....if you take that one property out, the list to sell percentage comes up to 90.9% - still a little low, but understandable as sellers want their properties gone before bad weather hits the area.

For the second week in a row, there were 3 new lakefront listings, bringing the total inventory up to 41 properties on the water.

ARROWHEAD WOODS

New Listings	14
Median Price	$385,000
Price Range	$275,000 - $648,800

Active Listings	428
Median Price	$541,500
Price Range	$190,000 - $5,995,000

Pending Listings	31
Median Price	$367,500
Price Range	$169,900 - $899,000

Sold Listings	3
Median Price	$370,000
Price Range	$330,000 - $445,000
Avg. Days on Market	65.7
Avg. List To Sale %	91.4%

LAKEFRONT HOMES

New Listings	3
Median Price	$1,990,000
Price Range	$1,695,000 - $2,900,000

Active Listings	41
Median Price	$2,575,000
Price Range	$879,000 - $9,950,000

Pending Listings	0
Median Price	$
Price Range	$ - $

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	4
Median Price	$227,000
Price Range	$189,900 - $299,000

Active Listings	162
Median Price	$242,000
Price Range	$54,900 - $1,779,000

Pending Listings	14
Median Price	$177,400
Price Range	$64,900 - $309,000

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

CRESTLINE

New Listings	11
Median Price	$259,375
Price Range	$109,900 - $690,000

Active Listings	157
Median Price	$235,000
Price Range	$59,900 - $695,000

Pending Listings	24
Median Price	$165,250
Price Range	$44,900 - $449,000

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

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

New Listings	8
Median Price	$135,000
Price Range	$93,900 - $330,000

Active Listings	202
Median Price	$249,000
Price Range	$39,900 - $4,600,000

Pending Listings	17
Median Price	$179,000
Price Range	$64,500 - $2,100,000

Sold Listings	2
Median Price	$250,000
Price Range	$140,000 - $360,000
Avg. Days on Market	88.0
Avg. List To Sale %	74.6%

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