Greg and Michelle Steffens

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


Q4 2007 vs. Q4 2008



Q4 '07 vs Q4 '08

 2007

 2008

New Listings
Median List Price
List Price Range

130
$525K
$190K - $3.4999M

120
$422.45K
$180K - $1.797M

Listings Sold
Median Sale Price
Sale Price Range

61
$420K
$249K - $1.5M

59
$365K
$169.9K- $1.35M

Average Days On Market
Average List To Sale Percentage

150.3
93.3%

111.8
95.6%

Price Reductions 36/61 (59.0%) 31/59 (52.5%)

In the grand scheme of things, the numbers were not radicaly off what they were a year ago for the month of December.  Total number of new listings were down less than 10% and the number of listings sold were only down by 2 units.  Average days on market were down over 1 month in 2008 from 2007, while the average list to sale percentage increased by 2.3%.  The median list and sale prices were down from 2007, which was to be expected.  PLEASE REMEMBER:  a drop in median sale price does not reflect loss of value...it shows a shift in the range that buyers are comfortable purchasing homes.  This, to many, signals the beginning of recovery in the real estate market for this area - buyers (wishing to insulate themselves from large losses should the real estate market decline further) purchase home more toward the bottom-end of the market (makes sense, doesn't it?).