Be glad to give a bit more insight to the stats…Here is what I wrote:
“Now, 7 solds out of 45 properties that came off the market. Less then 1 in 6 3/2.5 condos in 92130 have sold. Again pretty horrible. That means that 5 out of 6 3/2.5 condos that have come off the market in 92130 since 6/1/06 were either expired, cancelled, or withdrawn.”
So what this means is that 5 out of 6 properties coming off of the market WERE NOT DUE TO BEING SOLD.
Simply stated this is PATHETIC and is indicative of a VERY POOR MARKET. This is not a story, this is a hard fact.
PS I am getting more and more convinced that days on market, DOM are becoming another false stat due to people relisting, cancelling, withdrawing and coming back on. So again, the best way I feel to get a sense of the market is as follows:
1 – months inventory
2 – number of sales compared to the same month last year
3 – actives/pendings ratio
4 – overall inventory level
5 – true solds compared to expireds, cancelleds, withdrawns
