I usually run numbers in afternoon so sorry for the break from that but Ive got time
New listings 8 (4) –
New Pendings of 3 (3)
Thats +5
Closed sales at 1 (5)
Total houses for sale 14 (27) with median of $1.025M (945K).
There were 17 on the market 2 years ago with a 900K median
The 8 new listings were a big number for this time of year and I went digging. I found something that Im gonna make an early call on at least in MM.
Of the 8 new listings, 7 of them were owned 20+ years by the seller or their heirs. The one that wasnt was a flip bought a month ago from the heirs of a long time owner.
Welcome to the Boomer Liquidation! It has begun here.
As long as Ive been doing this I have learned that when the market data is telling me something I should listen the first time. Im listening now.
Whether its a trickle or a flow is TBD. Whether it will impact pricing? Unknown. But its good news for MM. There are too many rundown homes that need to change hands for the area to continue gentrifying. This seems to be the beginning of a notable shift up in boomer liquidations. Party on!
