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MARKET ACTION REPORT April 2012
City: Belmont, Burlingame, Foster City, Menlo Park, Redwood City, Redwood Shores, San Carlos, San Mateo
Property Type: Single Family Home, Townhome, Condo | Price $0.00 to $99,999,000.00
Trending Versus*: Trending Versus*:
Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear
Median List Price of all Current Listings $899,950
Average List Price of all Current Listings $1,094,074
April Median Sales Price $782,500 $715,000
April Average Sales Price $851,513 $818,753
Total Properties Currently for Sale (Inventory) 391
April Number of Properties Sold 298 1,001
April Average Days on Market (Solds) 43 48
Asking Price per Square Foot (based on New Listings) $546 $516
April Sold Price per Square Foot $493 $481
April Month's Supply of Inventory 1.3 2.0
April Sale Price vs List Price Ratio 100.7% 99.5%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales

April Property sales were 298, up 11.2% from 268 in April of 2011 and -10.2% lower than the 332 sales last month. April 2012 sales were at their highest level compared to April of 2011 and 2010. April YTD sales of 1,001 are running 16.5% ahead of last year's year-to-date sales of 859.

Prices

The Median Sales Price in April was $782,500, up 7.9% from $725,000 in April of 2011 and up 5.9% from $739,000 last month. The Average Sales Price in April was $851,513, up 0.9% from $843,962 in April of 2011 and up 1.4% from $840,042 last month. April 2012 ASP was at a mid range compared to April of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of April was 391, down -6.2% from 417 last month and down -58.0% from 930 in April of last year. April 2012 Inventory was at the lowest level compared to April of 2011 and 2010.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2012 MSI of 1.3 months was at its lowest level compared with April of 2011 and 2010.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for April was 43, up 7.5% from 40 days last month and down -23.2% from 56 days in April of last year. The April 2012 DOM was at a mid range compared with April of 2011 and 2010.

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The April 2012 Selling Price per Square Foot of $493 was up 1.4% from $486 last month and up 2.1% from $483 in April of last year.

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The April 2012 Selling Price vs Original List Price of 100.7% was up from 100.0% last month and up from 98.3% in April of last year.

Inventory / New Listings / Sales

'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in April 2012 was 401, down -1.0% from 405 last month and down -11.9% from 455 in April of last year.