- Sales Per Month: October, 2010 vs. October, 2011: Up 16%
- Active Listings including Active with contingency: November, 2010 vs. November, 2011: Down 40%
- Active Listings not including Active with contingency: November, 2010 vs. November, 2011: Down 50%
- Pending Sales: November, 2010 vs. November, 2011: Up 9%
- Sales Price as a % of list: November, 2010 vs. November, 2011: 1.63%
So what does this seem to tell us? Well for starters, home inventory levels have dwindled. The market in 2010 was ripe with foreclosed homes and short sales. Today, the supply of foreclosed homes seem to be much less as banks may be holding onto their inventory longer before it hits market.
Secondly, as homes continue to short sale, those with substantiation and support to receive lender’s extensions on the foreclosure sales date have impacted the amount of supply hitting our market. Successful foreclosure extensions to close escrow are highly possible. But the key rests with highly experienced and knowledgeable Real Estate agent. See how it all works:
The numbers above show that our market is working hard to bring about a positive change. With supply in smaller numbers, prices in certain key areas have seen stabilization and some small appreciation. This is a very positive sign that our market trying hard to break the bonds that have drawn downhill movement over these last few years.
