Steve, months inventory, you’ve got to use the last month of sales, not the average of past 6 months. market has shifted too much! How many pendings since 7/1, use that to get months inventory. inventory/avg monthly pendings since 7/1 – months inventory.
Steve, you should know better than to use March or April sales to compute today’s months’ inventory! Not in a falling market, where sales are dropping by 10 pts each qrtr, 10%, 20%, and now 30% for the last quarter…
For more accurate months inventory, discount the many escrows that fall out of escrow- wow!!! only 4 closed sales but 18 pending; did the market pick up that much, to go from 4 to 18 sales, or are most of the pendings falling out of escrow, so that only 6 of these 18 escrows will actually close? Can you find out?
PD is on the right track. Give her more data, and let her compute away. T
33 in escrow, but all under $3 mil, so the only homes selling in Coronado right now are the under $3 mil homes.
If you can do the statistics/calc right, months inventory in C. is probably much worse than 18 months. And remember, nothing over $3 mil is even selling
