BEST ANSWER
Check out this variation from the last year:
last year at this time:
Total Properties 9 Avg. 102
Lowest Price: $529,000
Median Price: $1,750,000
Highest Price: $4,500,000
Average Price: $2,078,444
Total Market Volume: $18,706,000
This year:
Total Properties 15 Avg. 106
Lowest Price: $359,000
Median Price: $490,000
Highest Price: $1,759,000
Average Price: $603,060
Total Market Volume: $9,045,900
More inventory this year and about the same days on market but there has been a drastic difference in prices which tells me either property values have dropped or the those in the higher price bracket aren't putting their properties on the market (waiting out the slump).
Hope that helps
Wed Jun 18 2008, 11:18