Lots of activity this week. I am starting to wonder if there is some lag in the www.metrolistmls.com data since last week there was almost no activity.
Anyways, several new contracts pending, escrow closings and new listings. However the net result was the same as before. It appears the market is in a state of equilibrium. The only thing worth reporting was the sizable number of price reductions, dropping the average price per square foot of homes for sale in my criteria another dollar.
The house on Smith Way that was so interesting to watch (first listed at $350,000, then at $500,000 but Zillow's for considerably more) just completely dropped out of the data. Not sure what happened there.
Looking forward to seeing this month's numbers.....Melissadata is showing really low averages so far....wondering if the end of the month activity will bring it back in line with previous months, or if we have finally reached a tipping point.
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The house on Smith Way that was so interesting to watch (first listed at $350,000, then at $500,000 but Zillow's for considerably more) just completely dropped out of the data. Not sure what happened there.
It was withdrawn on 6/24. My guess is that the bank is taking it back.
Inventory is at 17,751, so I think my forecast of 18,000 by the end of June will be off the mark.
As for sales, here's where we stack up:
6/1/06-6/26/07 - 1,777
6/1/07-6/26/07 - 1,289
(I realize it's the 28th, but agents are usually a day or two beind when closing out a transaction in MLS.)
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