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    Price Drops and Market Activity: Insights into Residential Listings

    Insights into Residential Listings

    Published 11/25/2024 | Posted by Jo Leung

    The real estate market offers a fascinating perspective on active and pending listings based on property conditions and special listing conditions. Currently, there are 13,436 active residential listings, with resale properties dominating at 70.1%. The average price for resale properties stands at $740,703, with an average price drop of 7.1%. In comparison, new construction listings represent 29.9%, priced at $712,682, with an 8.1% average price drop. Pending listings total 3,899, with a 22.49% activity index. Resale listings account for 56% of pending transactions, while new constructions make up 44%.

    In special listing conditions, "real estate owned" properties lead with 103 active listings at an average price of $485,635 and a price drop of 9.4%. Pre-foreclosure and short-sale listings follow closely, each with notable average price drops of 10.5% and 11.4%, respectively. Despite their lower share, these categories maintain a steady activity index, with "real estate owned" listings showcasing a robust 27.46%. This segment reflects a unique buying opportunity for investors and homebuyers alike.

    The detailed pricing structure highlights that properties labeled "notice of default" have the steepest average price drop of 32.1%, with only four listings in this category. On the other hand, "bankruptcy" and "HUD owned" listings show average price reductions of 9.6% and 10.8%, respectively. These trends suggest that distressed properties may present significant value propositions in the current market climate.

    When it comes to activity, the new construction category shines with a 29.93% activity index, slightly outperforming the resale category at 18.82%. The competitive price positioning and modern amenities of new builds appear to drive stronger buyer interest. Among special listing conditions, estate and probate listings, though limited in number, maintain moderate activity indexes of 21.36% and 24.59%, showcasing steady interest from buyers seeking niche opportunities.

    Overall, this data underscores the diverse options available to buyers, from newly built homes to special condition listings. As price trends and activity levels vary, understanding these market dynamics can help buyers and sellers make informed decisions.

    • real estate market trends
    • active listings analysis
    • pending residential listings
    • property condition insights
    • resale vs new construction
    • special listing conditions
    • price drops in real estate
    • activity index real estate
    • real estate market 2024
    • housing trends analysis
    • home price trends
    • distressed property listings
    • real estate investment data
    • new construction statistics
    • market activity insights

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