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sdrealtor
ParticipantSorry got some catching up to do. Have been busy doing a bunch of things. Kinda funny that its been almost 3 years since my last big aha moment. I was in the process of refinancing at 2.625%. As a self employed person its always tougher to refi even for a small loan. I looked at what I had just done and said to myself, self this is probably your last mortgage and you’ll never refi this loan or sell this home in this life. Then it struck me like a lightening bolt! If I was saying that, then millions of folks across the country were also. It was at that moment I knew the real estate market and just as importantly the industry was on a path to being cut in half.
To answer your question, yes it is an off market transaction and that can be for a number of reasons. These include
seller wants private sale
seller wants quick sale
property was previously on market/didnt sell/agent reached out with interested party even though it was on market
slimey agent tricks
sold during coming soon status
any number of other reasons
IVe been running the weekly number and just need the time to write them up. Hopefully sooner than later
ParticipantNew 12 (10) – usually a slow week on listings with end of summer holiday
Pending 12(10) –
Thats 0
Closed 15 (13) –
Total houses on the market 82 (102 last year) with a median of 2.43M (2.1M). Two years ago we were at 60 and in 2020 during pandemic peak impact we were at 85.
The size of the real estate market here is a lot smaller than it used to be. Lots of pain present and coming locally and beyond in the industry
ParticipantNew listings 2 (3) –
New Pendings of 3 (8)
Thats -1
Closed sales at 6 (7)
Total houses for sale 8 (32) with median of $1.2M (992K).
There were 20 on the market 2 years ago with a 849K median.
Inventory peaked this year in January at 14.
More of the same
ParticipantUmmm revisionist history much? The original post was about Redfin in general. I insisted turning it into nothing. Redfin is dying. The stock just went under $8. The only thing left is the memorial service.
As for this site being a ghost town and wondering why? I can answer that. All bubble related conversations on the internet are slow. Perhaps the most active one with 10s of thousands of members is on reddit. The admins ban anyone that doesn’t tow the this is a bubble rhetoric.. I was banned long ago as well as countless others I knew on there
https://www.reddit.com/r/REBubble/
The Doomers/permabears have all been slaughtered by the markets. The daily post counts there are down tenfold. The market survived and thrived while calls from posters here screamed sell now! The last of the doomers had their hides whipped by the markets. Those of us that unemotionally followed the data benefited while those who didn’t never seem to show back up to admit they were wrong. It just doesn’t work like that. So while you offhandedly tried to attribute the lack of activity to me the reality is there just isn’t much interesting going on in real estate anymore that lots of folks want to talk about.
ParticipantNew 16 (10) – usually a slow week on listings with end of summer holiday
Pending 13(15) –
Thats +3
Closed 9 (18) –
Total houses on the market 85 (105 last year) with a median of 2.65M (2.1M). Two years ago we were at 61 as we headed toward the price blowup that started Fall 21
Median continues to creep up as we see more new high end listings and fewer sales. Inventory has been basically flat the last 2 months. Thats a little unusual as we should be in decline already. Not worried as its not increasing but it does bear watching.
ParticipantNew listings 7 (7) –
New Pendings of 3 (7)
Thats +4
Closed sales at 2 (7)
Total houses for sale 12 (34) with median of $1.15M (980K).
There were 19 on the market 2 years ago with a 849K median.
This market is just flopping around with low new listing counts and low sales. Sometimes more of the former and others the later. Doesnt look like we are gonna see much change anytime soon
ParticipantNew 12 (6) – usually a slow week on listings with end of summer holiday
Pending 12(11) –
Thats 0
Closed 16 (17) –
Total houses on the market 86 (117 last year) with a median of 2.45M (1.99M). Two years ago we were at 59 as we headed toward the price blowup that started Fall 21
Median starting to creep and expect that continue as high end homes dominate the inventory more and more
ParticipantNew listings 1 (8) –
New Pendings of 6 (7)
Thats -6
Closed sales at 3 (7)
Total houses for sale 9 (34) with median of $1.2M (978K).
There were 20 on the market 2 years ago with a 857K median.
The new inventory as expected was absorbed and will continue to be
ParticipantNew 13 (14) –
Pending 23(22) –
Thats -10
Closed 16 (12) –
Total houses on the market 85 (122 last year) with a median of 2.35M (1.99M). Two years ago we were at 66 as we headed toward the price blowup that started Fall 21
Its usually a good week for sales and this year did not disappoint. Shouldn’t be much new inventory coming on and sales should slow with lower inventory but we are heading into bargain season. If your gonna get a deal Fall is the time. Probably wont be easy but some will get one
ParticipantNew listings 6 (8) –
New Pendings of 6 (10)
Thats 0
Closed sales at 6 (8)
Total houses for sale 13 (32) with median of $1.2M (981K).
There were 24 on the market 2 years ago with a 867K median.
Had some inventory build up the last couple weeks. There are some nice remodeled/ and/or flipped homes on the market now. They should be easily absorbed by the market in the next few weeks. Not seeing anything changing here other than a brief period of some better inventory right now which is why the median is up quite a bit also
ParticipantWas away on Hawaiian vacation so limited report for last week
New 17 (14) –
Pending 19(19) –
Thats -2
Closed 19 (14) –
Inventory didnt rise here as it did in MM
ParticipantWas away on a Hawaiian vacation so Ill keep this brief and catch up
New listings 7 (0) –
New Pendings of 0 (4)
Thats +7
Closed sales at 6 (8)
Didnt get inventory count but it has been rising here albeit still historically low. This week last year it was 32
ParticipantHere you all go. This is the kind of interview a CEO gives to pre-announce his company is about to get trounced the next several earnings reports.
ParticipantOh and I also like and am not afraid of the truth. Something that is rarely openly discussed in the real estate profession. Everyone is the neighborhood expert, everyone is a top realtor, everyone is #1. The truth is there is massive hyperbole among agents actual production. Always has been
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