Real Estate Information Archive

 I thought it might help if I posted a current graph of this years market. Biggest change in this over past years has been a slowdown in overall sales vs new listings comming on the market. This has caused our current glut of listings. It will probnably take us well into next year to chip away at these levels. The good news is, homes that are priced and staged right are still moving in market time. Market time is bit generic but refers to both a homes price point and location.

Hope this helps,

Till next time,

MIke

Hello all,

The market numbers are in for last month. All numbers are compared to same time last year.

New Listings increased 4.3%

Sales are down 14.1%

Total active listings are up 26.1%

despite what the media is reporting we are in more of a traditional market with the swing in months inventory just a bit over to the buyers side. I will be looking at how the market develops over the coming months to see how we absorb or not the standing inventory. A big component of this will be what happens within the mortgage industry and what effect the sub-prime meltdown will have. I will discuss this in my next post in the next few days.

MIke