Heading up to LA for a concert so early update. If anything there may be another pending or 2 by my normal data collection time each Tuesday as at least 4 of 5 have multiple offers on them they are negotiaitng on
New listings 2 (7) – market watchers this is # to follow.
New Pendings of 2 (8) –
Closed sales at 4 (4) –
Inventory at 5 but at least 4 if not all 5 working through offers. It was 7 this time last year. The median list price is now $999K and was $829K this week last year.
Only 2 sfr listings this week is anemic. Thats a dead of Winter not a Spring peak selling season number. Anyone watching the market here needs to follow new listing numbers. Interest rates mean little in such a supply constrained market as there are plenty of high down buyers not overly impacted by rates.
Most houses seem to be closing between $50 and 100K over with the exception of the best of the best locations which can go much more.
