I took a look at the numbers for the last 3 years searching for any trends. Remarkably, the numbers look pretty darn good considering and the market seems active. Check out the graph below for details and any feedback-questions would be appreciated.
There were 201 Pending Sales (Under Contract) yesterday which is 17 MORE than last year and 5 more than 2017! That is really good news and indicates brisk demand. Supply (Active Listings) is down 51 from last year and up 58 compared to 2017.
Talking to Betsy my transaction coordinator, out of 20 closings they have in process, 6-7 are delayed due to the shutdown. From December 1 through Jan 21 there were 163 closings which is 9 less than last year. More Pending Sales but fewer closings compared to last year indicates the shutdown is having a negative affect at least concerning the pace of closings.
In the $200-400,000 price range, it looks like inventory is actually low with 112 less homes for sale compared to 2018 (about 30% less). There are just 3 fewer pending sales from last year and 11 less than in 2017 again indicating strong demand. The ratio is 58.02 now versus 38.89 in 2018!
I am hearing of more homes that have had earthquake damage affecting closings (re-inspection’s, repairs etc). I’m getting pretty sick myself of aftershocks (or are they earthquakes??) and we had a pretty good one last night!
If you are having any thoughts of selling in 2019 let’s talk about your situation. I am always happy to give an estimate of your home’s current market value and answer any questions you may have about finding the right buyer.
If you are wanting to buy the perfect home in 2019, let’s start mapping out a plan. There are some great buys out there and I have the experience/skill to help get you happily to the closing table!
