Happy birthday to me! I'm officially a little older as of today, but I stopped keeping track of it in years a while ago. Now I'm to the point where I just count up the aches and pains when I wake up in the morning. Some days I'm only 23, some days I'm 75. Let's look at some numbers that I can actually make some sense of:
Active Listings: 76
Contingent Listings: 43
Pending Listings: 54 (31.2% of the inventory)
New listings: 12
Months of inventory: 4.6
Click here for an updated price per square foot chart.
There's a fine line between being in a groove and being stuck in a rut. Numbers that have been as steady as this for a few weeks kind of straddle that line. For a couple of weeks recently I noted that our new listings were dominated by traditional sellers, but that things reverted to "normal" last week. Yeah, I know, define normal... Well this week, only 1 of those 12 new listings was an REO, and only 3 were short sales. If we hadn't had a run of traditional listings on the market in the past month or so, I"d hate to think where our inventory would be right about now. I'm still not sure that activity will hold up, and if it doesn't, we may find ourselves looking at active listings dropping off sharply in the next month or so. Just in time for the last minute crush of buyers trying to get in on that home buyer tax credit that's set to expire. This could get interesting.
Later this week, I'll take a fresh look at newer construction resales in our market.
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