Nearly one quarter of homes reduced asking price in July A recent report found 24 percent of homes listed for sale nationwide experienced at least one price reduction as of July 1, representing a 9-percent increase compared with the previous month, according to Trulia.com.  The average discount for price-reduced homes remained unchanged at 10 percent of the listing price.

Cities in the Western U.S. experienced some of the largest surges in price reduction compared with the previous month.  Oakland increased 38 percent month-over-month and San Diego experienced price reductions of 25 percent.  Honolulu experienced a 21 percent increase in reductions from the previous month and Las Vegas increased by 20 percent.More info.

① Data supplied by Cal Redd MLS

② Jan 1, 2010 to July 1, 2010

③ Ratio of original listed price to the actual sold price

④ Under Contract = sale pending

Listing Stats You Should Know①

 

Year to Date 2010②

(Single Family, Site Built Homes)

 

Office List to Sale Price Ratio③  Median Days on Market

Coldwell Banker Ponderosa 89.5% 37

C21 Select 87.7% 82

United Country Johnson 87% 115

Real Estate Professionals 85.2% 79

Remax of Paradise 84.8% 144

 

1. List to sale price for the other offices combined was 87.1% That is 2.4% lower

performance than Coldwell Banker Ponderosa. That is very close to paying for

the entire amount of listing side commission 

 

2. Median days on market for the other offices combined is 79. That is 42 days

slower than Coldwell Banker Ponderosa

 

3. Factor our year to date market share for sold listings, which is 48% and it is clear

that a solid relationship exists between top performance and volume of

customers

 

4. As of the date of this report (July 21, 2010), Coldwell Banker had 41 properties

under contract. Stats for the other four offices:

 

Office Properties Currently Under Contract④

Coldwell Banker Ponderosa 41

Century 21 Select 19

Remax of Paradise 9

United Country Johnson 8

Real Estate Professionals 6

 

Currently Coldwell Banker has about as many under

Contract as all of the other offices combined

 

“DO THE MATH”

 

C.A.R. Green Tip of the Week: Unplug and save Turning off the lights saves energy, but unplugging unused appliances, cell phone chargers, and lights saves more, because these devices draw energy even when plugged in.  For more green real-estate-related tips and discussion, visit C.A.R.’s green blog (http://blogs.car.org) and C.A.R.’s Green Web site (http://green.car.org/).