State of the Market: June 10, 2009

We’re heading into the summer months of real estate in this new economy, and it’s a good time to take stock of current market activity.

Word on the street is that buyers are moving with a renewed sense of urgency—probably due to the fear of interest rates rising in the near future.

There are 584 houses and 751 condos on the market.

258 single-family homes and 165 condos/TICs are pending, at an average list price of $763,039. (“Pending” means that all conditions have been removed, and the loan needs to fund in order to close the sale.)

And there are 186 single-family homes, as well as 300 condos/TICs that are currently in contract, with financing and inspection contingencies due to be removed.

38 houses have sold since June 1st, at an average price of $972,803; 17 condos have sold at an average price of $865,559.

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Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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