A week of Reductions, New Listings, Expireds
Whether it’s for a break or some other reason, in the last seven days, 18 listings came off the MLS (either withdrawn, cancelled or expired).
Yet fifteen new listings came on the market. Of those 15, 12 were in Half Moon Bay, 1 in El Granada, 1 in Moss Beach, and 1 in Montara. Of the 12 in HMB, 5 of those are in Ocean Colony; the other 7 spread among the various neighborhoods.
Also this week, ten listings went into contract (contingent/pending). One of those is an Ocean Colony home that was on the MLS only one day.
Nine listings had price reductions. Eight are residences and one is a lot. Of the eight sellers with residences reducing their list prices, the average Continuous-Days-On-Market (CDOM) is 166 – minimum was 21 days and maximum was 325 days. Homes with price reductions this week spanned all quartiles with slightly more price reductions in the higher priced homes. The average square footage of homes with price reductions this week is 3,135 on an average lot size of 10,224 square feet.
Four properties closed escrow.
These include single family homes, condos, multi-family properties, and lots. The only group excluded is rentals, of which there are very few input into the MLS.