Monday Morning Numbers 2/2/09

Happy day after the Super Bowl! Was that some fun, or what? Here's what the numbers look like this morning:

Active Listings: 109
Contingent Listings: 17
Pending Listings: 55 (30.4% of the inventory)
Price changes for the past week: 10 (7.9%)
Sold listings for the previous two weeks: 10

We have 4.8 months of inventory on the market this morning.

It's pretty surreal to see our inventory drop this far this fast after the ride we were on for the past few years. We had a good long discussion in our MLS Marketing meeting on Friday centering on the challenges presented by loan modifications. One of the things that we heard from a couple of agents who do a lot of REO listings is that they've been told that they should expect some more listings coming on the market in the next couple of months.

Judging by the Notice of Default numbers I've been seeing, I'd say that it's likely to be summer at the earliest before we see REO listings make a big impact on our inventory level, if then. And frankly, from talking to other agents around town, I think that if we saw a big influx of another 20-30 REO units hit the market today, that there is enough demand out there to absorb that.

Anybody want to buy a short sale? That's the "Focus On" topic for later this week.