Monday, January 18, 2016

New Listing Watch -- Right on Schedule ... listings bounced right up after the holidays and new year's holidays.  Of the 91 new single family home listings during the last two weeks, 11% (10) are already in contract.  The bounce was even more pronounced with condos where 138 new listings appeared during the last two weeks and almost 17% (23) of them are already in contract.

Assuming the usual pattern holds, inventory will continue to increase through the May-June period, drop off during the July-August period, reach another peak in September-October and then fall steadily through the end of the year.

Monday, January 4, 2016

New Listing Watch -- Lowest Levels Since This Time Last Year

As expected the number of new listings during the past two weeks is at its lowest level since this time last year.

We see this pattern year after year in whether it's a buyer's market or a seller's market.

For buyers, this can provide an opportunity since competition is also relaxes during this period.

Two weeks from now we expect to see a significant upturn in new listings.