Monday, Monday...

Our market picks up steam.

Market Snapshot 2009/05/11

Okay, so if you've been waiting on pins and needles for this report, then you'll notice it's actually Wednesday already. A couple of reasons this didn't get out on time relate to the relative rush to buy in our local market. There is an increase in homes that have accepted offers on them - 749 today, which is up from 715 last week. More on that shortly. A change in this week's numbers is that there are more homes active for sale this week - 3036 compared to 3022 last week. This is the first time in many months that this number has been higher than the week before. Not too alarming since this is seasonally the time of year more sellers put their homes on the market. And the last number, the number sold, is 50 for the last week, and that's down from the previous week.

So what's going on? Well, I've been suggesting buyers should get active for several weeks. Now, personally and more from other agents, buyers are finding themselves in competetive positions. I'm experiencing situations where my buyer's offer is one of 3 or more pretty regularly. I've heard of one property that received a dozen bids in one day. On the other hand, I'm seeing some homes languish on the market for months because they aren't priced right. And, no - if your home isn't selling, it isn't "because of the market". Never has been the issue - if it's not terms or condition, then it's price - your price.

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