Wanted to get this one in early before holiday shutdown also. We expect the market to be mostly shut down by now. Homes listed now are more than likely vacant. Who would want to list their home over the holidays if they didnt have to? Why not wait for the early Spring rush to begin at this point. Lets see what we got
New listings 10 – steady dropping into holidays
New Pendings of 25 – buyers still very active
Thats -15
Closed sales at 27 –
Price reductions at 1
Total houses for sale 36 with median of $2.0M
This time last year inventory was historically low at 86. We are in unchartered territory. Looking through the inventory I see a bunch that will see in the next few weeks. Most of the new listings are vacant and often long term rentals or estate/probate sales. There are some high priced fishing expeditions going on. There are 5 priced at $5M+ but we had two in that range go pending this week. Everything is selling in every price range.
Verdict: Will see double digit pendings the next couple weeks clearing out whats left and sellable but mostly shut down here. This is a big market that should open the year barren of inventory. Like walking into a near empty Costco. I hope sellers come out to meet the demand next year and those that do should have a solid plan in place as to where they going next. Double digit appreciation in the bag next year
