Third Monday Market Update

The largest change between last Update and today is the number of properties that have gone under contract in the past two weeks. Having an increase just before Thanksgiving is a great sign. Showings have started to increase (about 10-15% growth) over the last month…most of this being the last week.  The market is still struggling; we are 7% below last year’s sales figures (residential), but we are seeing shining lights occasionally.

 

Just an FYI: our MLS is absorbing a local MLS that was losing members. Because of this, we will see more listings in our MLS by the end of the year. This will slightly change our Absorption Rate, but will do very little to change your chance to sell your property. Most of the listings are not in a comparable area to your property.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

First Monday Market Update

It is very common to see our Market Absorption Rate decline at the end of October. This is caused by a drop in the number of active listings. Normally, our market see a reduction in the number of active listings from October to March and the slowly this number builds back up over the summer. We actually have less active listings today, than we have had the previous two Novembers. This is another good sign that increases the chance your property will sell.

 

I spoke with several different agents recently, all of them indicated a larger number of showings, but they all seem to be having trouble getting buyers to make offers. Buyers are very hesitant right now and it seems they will be this way for quite some time. The number of Under Contracts is still higher than earlier this year. And with listing prices dropping a little more, I anticipate this number to stay up for another month.

 

If you would like to see a copy of this information, please email me or call for more information.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!