Well, I hope everyone is alive and well and that your brackets aren't completely trashed yet on this fine Monday morning. Mine look pretty good - 14 out of the sweet 16 still alive. If it weren't for Wake Forest (my dark horse final four team) laying an egg in the first round, I'd be doing incredibly well.
But you didn't come here to read about hoops , did you? Here's a snapshot of the market this morning:
Active Listings: 108
Contingent Listings: 30
Pending Listings: 33 (19.3% of the inventory)
Price changes for the past week: 12 (8.7%)
Click here for our most recent price per square foot chart.
We have 5.4 months of inventory on the market this morning. Our pending sales have dropped below the 20% level for the first time in a little more than a year. A big part of that is that contingent listings have nearly doubled since the first of the year. In fact, if the current trend holds, we're going to see more contingent sales than pendings soon. I think a big part of what's causing this is our thin inventory. A lot of buyers are moving to short sales (which usually go into a contingent status for quite a while) for lack of better options. We're still seeing the good listings, especially the REO's, move very quickly.
Freakin' Wake Forest...
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