January 2012 Market Update
Sales per Month: 7,416 in December - up 2.5% from November.
Active Listings (including AWC): 24,641 on January 1st - down 7.6% from December 1st.
Active Listings (excluding AWC): 18,320 on January 1st - down 5.5% from December 1st.
Pending Sales: 9,146 on Januaryt 1st, down 10% from December 1.
Days Inventory: 76.1 on January 1s, down from 96 on December 1st. Significantly down from last month and also dramatically down form 184 at this time last year
Sales Price as a Percentage of List: 96.67% on December 1, exactly the same as on November 1 but up from 95.59% on December 1, 2010. The sales price has been at or above 94% of list for 32 of the last 36 months.
Overall we see dramatic decreases in inventory and inventory availability. This is also reflected with the buyers I am currently working with having a difficult time finding a property. Most are involved in multiple offers. The only negative factor is the decrease in pending sales which most likely is a result of the inability of buyers to obtain a property. Buyers are going to have to be very aggressive and timely to obtain a property in the near term. In many recent cases, offering above list price and still not having the winning bid on a piece of property. With fewer and fewer homes coming on to the market as evidenced by close to 10,000 homes on the market with only 6500 new listings on the market an ever shrinking pool of homes is evidenced. Many of the homes that are left on the market are the difficult or impossible sales due to condition and financing.