July 2012

TheMReport — News and strategies for the evolving mortgage marketplace.

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MDWELL Taking the Plunge: Inventory Declining Despite Slow Sales Numbers from demonstrate a welcome statistical decline as the country's supply of housing inventory hits its lowest level since 2006. Top-Five CBSAs 01 BOISE CITY AND NAMPA, IDAHO Months of Inventory: 5.43 Median Sold Price: $123,505 Active Listings: 3,493 Hot Property: Stunning Tuscan-inspired villa in Nampa; 7756 Loma Linda Ridge Road. The Idaho estate sprawls more than 20 acres, and the luxury home boasts 360-degree views of the surrounding landscape. The 5,821-square-foot home is currently on the market for $1.7 million. Months of Inventory: 6.99 Median Sold Price: $165,000 Active Listings: 14,726 Hot Property: Gated Tudor-style home in Dallas' Turtle Creek area; 3900 Stonebridge Drive. Sitting on nearly one acre, the 6,355-square-foot house features an infinity pool, chef's kitchen, and advanced electronic systems throughout. The property is listed for $4.295 million. 02 DALLAS, PLANO, AND IRVING, TEXAS Months of Inventory: 5.02 Median Sold Price: $95,000 Active Listings: 8,217 Hot Property: Well-appointed, ultra- private estate in Farmington Hills; 28294 Secluded Road. Highlights within the four- bedroom and 3.5-bathroom home include a large sunroom, dual laundry areas, and large outdoor entertaining spaces. The traditional house is on the market for $347,900. 03 WARREN, TROY, AND FARMINGTON HILLS, MICHIGAN 04 WEST PALM BEACH, BOCA RATON, AND BOYNTON BEACH, FLORIDA Months of Inventory: 7.35 Median Sold Price: $190,000 Active Listings: 6,309 Hot Property: French Mediterranean home in Boca Raton; 355 Mizner Lake Estates Drive. Recently featured in Architectural Design magazine, this elegant property also gives buyers access to the members-only Boca Raton Resort and Club. The estate is listed for $4.499 million. 05 DETROIT, LIVONIA, AND DEARBORN, MICHIGAN Months of Inventory: 5.67 Median Sold Price: $47,950 Active Listings: 5,740 Hot Property: Traditional home in Detroit's Joseph Barry subdivision; 309 Fiske Drive. The spacious custom property has riverfront views, three fireplaces, and multiple living areas in 4,500 square feet. The house is currently on the market for $499,000. 12 | THE M REPORT

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