Monday Morning Numbers 4/13/09

Good morning - let's take our weekly look at activity in our local real estate market:

Active Listings: 105
Contingent Listings: 35
Pending Listings: 36 (20.5% of the inventory)
Price changes for the past week: 7 (5.0%)
Click here for our most recent price per square foot chart.

I keep thinking that I should start treating the contingent listings the same as pendings and lump them all together, but for the sake of consistency I don't think I will. I treat them differently because contingent listings, especially contingent short sales, are much less likely to close than pending listings. I suspect that we'll continue to see a large number of contingent listings for as long as our inventory is thin and buyers are trying to pick up short sales. What I can do is occasionally point out the difference in the numbers if we were to treat these categories the same. For instance - we have 5.7 months of inventory on the market this morning using my standard method of calculating this number. But if I treat contingent listings the same way I treat pendings, we would have 4.3 months of inventory. That's a big difference.

Later this week, I'm going to do a first quarter review and post an updated price per square foot chart with it.