Happy New Year! I hope everybody had a reasonably sane celebration, or if you didn't, that you're at least out of the hospital or out on bail by now. Let's take a look at our first numbers for a brand new year:
Active Listings: 80
Contingent Listings: 46
Pending Listings: 41 (24.6% of the inventory)
New listings: 4
Months of inventory: 4.1
Click here for an updated price per square foot chart.
New year, not so new numbers. Those look a lot like they did last week, with slightly lower inventory and pendings. Those last couple of weeks of the year are traditionally slow activity weeks for the market, so that's no surprise. We didn't see quite as many expired listings as we had typically seen in years past at the end of the year, but it's probably mostly due to the fact that we didn't have a lot of listings to start with.
It looks like December was a slow month for foreclosure activity. Also, several banks put a moratorium on foreclosure evictions over the holidays. That data probably points to a slower than usual rate of REO listings hitting the market in the next several weeks, so I wouldn't be surprised if our inventory level drops back down a little later this month and in early February.
Come back later this week and I'll have come up with something to write about. It might even be good.
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