I was doing some research yesterday for 4 new lisitngs and was wowed to find how much the market here in Memphis is shifting in a positive manner. Right now the market is showing us that we have moved from a stable market to an increasing market. That is good news. Also the inventory level that we have in the area is decreasing which is another good sign for the market.
I was looking specifically in the Cordova area (an area just outside of Memphis) which has always intrigued me. As I was looking at the market conditions (our MLS is great in that they easily provide us this information so well to go Melanie) and was thrilled to see that our inventory is down to just a few months (which is manageable) and our condition is increasing. Also the absorption rate is coming donw which is always good.
It is still a buyer's market int this area and housing prices aren't back to the 2006 levels, but the market is increasing and this is a VERY good sign. I am just thrilled beyond all believe about the progress that we are making right now.
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