What Was Happening At The “Top” Of The Market?

The information below was originally posted on my ActiveRain Blog on June 15, 2007 and it’s worth reposting today:

A few people that correspond with me tend to focus on the homes that are currently selling for less than asking price rather than the ones that are selling for more.  These people also wanted to know how our current market compares to the height of the market from 2002 – 2004.  Because it takes so much time to compile this information I am only providing a sampling, but you can get the idea…  Basically, even at the height of the craziness a large percentage of homes were selling for less than the original asking price.  No surprise there.

May 2002

City

# of homes sold

Average DOM

Average Original Asking Price

Average Final Selling price

# of homes that sold AT original price

# of homes that sold OVER original price

Mill Valley

66

45

960,787

967,768

5

27

Greenbrae

13

73

785,885

751,423

0

5

San Anselmo

24

41

791,563

800,429

3

8

San Rafael

91

53

646,067

642,220

15

34

Sonoma

82

74

454,594

440,184

13

6

May 2003

City

# of homes sold

Average DOM

Average Original Asking Price

Average Final Selling price

# of homes that sold AT original price

# of homes that sold OVER original price

Mill Valley

49

47

956,376

929,979

4

17

Greenbrae

10

58

693,050

673,095

1

2

San Anselmo

25

63

767,960

748,454

2

9

San Rafael

88

50

683,190

667,107

13

26

Sonoma

59

80

644,330

570,373

2

17

May 2004

City

# of homes sold

Average DOM

Average Original Asking Price

Average Final Selling price

# of homes that sold AT original price

# of homes that sold OVER original price

Mill Valley

45

38

1,165,122

1,174,608

6

26

Greenbrae

3

49

929,667

908,000

1

0

San Anselmo

30

36

867,190

871,268

2

21

San Rafael

80

36

764,059

771,459

13

45

Sonoma

52

61

714,104

699,800

8

18

What is most difficult for me to understand is why the negativity?  The numbers speak for themselves, but there is always someone that wants to put a negative spin on the situation.  Why can’t it just be what it is, and not be puffed up as being something more than it is, or beaten down to be something less than it is?

As always, if you have any questions, just ask.

 

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