I needed to run some numbers today from just 4+ car garage homes. The numbers were pretty interesting.
So, if you are paying attention, you might notice a lot of mixed signals. But, what I am seeing is that while the Single Family Residential numbers overall are currently pointing to about 104 Days on Market, everything under $500k is WAY under 104 Days on Market. This shows me that some sellers are hitting prices that are getting buyers off the fence. I am also seeing that the inventory is shrinking for everything over $500k compared to sales. So, there is still a good way to go, but the deals are going away... fast.
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I'd love to hear from you...
Terry - Listings don't seem to be trending up as much as sales... but for the 4+ car garages I haven't been tracking long enough to see the full trend.
Larry - I am seeing that the national trends are pretty close here... despite some of the "not in my market" folks. We aren't swinging as hard, but we are having the same directions.
K&R - I don't think it is swinging back yet, but I think we are right around the apogee... what some might be calling "the bottom", of course, it isn't true in all markets, even locally... and it isn't true at all price points. I think that is one of the things many people miss. They think the whole market is going to turn at once. It won't. There will be leading and trailing segments, by price and location.
Thanks for commenting.