Lack of inventory has been the bane of most real estate buyers and their agents for some time now. There were three interesting items on this topic today:
- The Mark Company, which handles the marketing for many new construction condo buildings, reported today that new construction condo inventory was up 63% compared to last year. Their report indicates 401 units available. The accompanying graph also suggests that there was a peak in inventory about 10 months ago at approximately the same levels as today. This was followed by several months of reduced inventory with an upturn in just the last two or three months.
They also report that pricing has increased 13% since the same time last year.
- Our own bi-weekly reports of new listings shows that since the first of the year, listings have held relatively steady in the range of approx. 250-350:
- Our regular monthly sales report shows a significant reduction in inventory compared to the same period last year for all five configurations of condos and single family homes we track as well as 2-4 unit properties:
- Socketsite had an item yesterday suggesting that inventory has been steadily climbing but giving no source for their numbers.
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