1 post tagged “real estate inventory”

It has been a full week since the New Years celebration and I am seeing property starting to come on the market. When viewing my "New Listings" update on Friday, 1/5 there had been a little over 100 new properties added to the MLS. For the Tuesday Brokers tour we are looking at a still anemic list of approximately 21 pages of inventory.

So Ken, how does that compare with a "normal" market?? What I like to see is around the 51 page level of listings on a typical Tuesday tour sheet. That gives my buying clients some reasonable options to choose from and not be toooo crazy!!

Going forward in the 1st quarter of 2007, let's watch as inventory builds to a point where it is close to that number mentioned above. Also now is a good time to watch and evaluate the interest rate situation because if you have a 3 or 5 year adjustable it might also make sense to lock in a rate that compares with a year ago!!

Call if you have any questions and Happy new Year!!

PS- Today is my father's 70th birthday so "Happy Birthday" to him!!