Arn Cenedella

What is the real estate market doing in other areas?

Altos Research provides real time real estate information to real estate professionals and investors.

In their December Real IQ Housing Market Update; 20 major metropolitan markets are analysed.

The report indicates:

Listing inventories over the past 3 months have declined in all markets except for Las Vegas, Detroit, and Miami. San Francisco had one of the largest decreases in listing inventory. The report attributes some of the listing inventory decreases to seasonal factors.

The monthly average days on market ranged from a high in Miami of 137 days to a low in San Diego of 75 days. San Francisco had one of the shorter average days on market with 83 days.

Percentage of Inventory with price reductions ranged from a high of 51.5% in Las Vegas and Minneapolis to a low of 32.8% in Washington DC. San Francisco saw price reductions on 50.3% of the inventory.

This data is for single family homes only. Condominiums and townhouses are not included. Each market area is defined by the Census Bureau’s Metropolitan Statistical Area.

This entry was posted on Saturday, December 15th, 2007 at 10:45 pm and is filed under Real Estate Data, USA real estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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