Update time. Im starting to think all of SD cant possibly be like here. Here’s the latest
New listings 24 back down and seems about average for this time of year.
New Pendings of 35 so the buyers still very active. Its gotta be real tough to be a buyer out there shaking one’s head! Pendings were 11 higher than new listings. There seems to be no end to the demand
Closed sales at 40 were highest of the year. Here’s something astounding I found when reviewing them. 25 closed at or above asking price with most of those above asking. That means unfilled orders and more upward pressure on prices.
Back up with 13 price reductions.
Total houses for sale down to 85. Just a note here as to the reason why inventory doesnt drop as much as the gap between new and pending listings. Each week a bunch of properties come back on the market for a variety of reasons. It can be a buyer that cancelled, a seller that pulled their home of the market to do upgrades or take a break or any number of reasons. Its good to look at the inventory number but I think the gap between new and pending listings is more indicative of market conditions.
