Woohoo! Inventory Is Up

Compared to last year at this time new listings have increased by 15%.  For the two weeks ending February 26 there were 283 new listings compared to 245 a year ago and compared to 278 in the prior 2-week period.

The majority of new listings was single family homes (113 vs 93 a year ago and vs 106 compared to the prior twp-week period.  New condo listings were also up compared to a year ago (170 vs 152) but actually down slightly compared to the previous 2-week period (170 vs 172).

A smaller percentage of new listings went into contract.  9.7% of new listing single family homes went into contract compared to 17.2% a year ago and compared to 15.1% for the prior period.  11.8% of new condo listings went into contract compared to 15.8% a year ago and compared to 15.1% for the prior period.

The number of price reductions held steady compared to the prior period -- 8 single family homes and 20 condos compared to 7 and 18 respectively two weeks ago.  Compared to last year the number of price reductions is the same for single family homes but down compared to condos (20 vs 27). 

The Five Golden Rules of Home Staging on a Budget

Staging a home before putting it on the market can be an expensive proposition.  Here are some ideas for those who want to avoid that expense but still present their property the best light.

The Five Golden Rules of Home Staging on a Budget:

And check the comments for a few more.

New Listing Report and Active Listings Report

New listings were slightly ahead of the same two week period last year -- 278 to 253. 

15% of those new listings went into contract within the same two week period which is about level with the last three reporting periods back to the first of the year.

Price reductions for the past two weeks were double those of the prior two week period but were only a scant 7 for single family homes and 14 condos.

We also track the total number of active listings for five configurations of single family homes and condos at the beginning of each month.  In three of those five categories total active listings at the beginning of February were down compared to last year at this time. 

Even though the weather may last week may have said "spring market", we are still facing very low inventory levels and continuing high demand.  Attendance at weekend open house showings is strong and multiple offers abound.