Accepted Offers Up, Active Listings Down - Los Angeles Condos

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Real Estate Agent with Bennion Deville Homes CalBRE# 01339266

The Combined LA/Westside Multiple Listing Service has published a chart that I think is worth noting.

The graph, which compares figures from August 2008 to August 2010, indicates that the number of Accepted Offers has increased while the number of Active Listings has decreased.

This points to an improvement in market conditions (from a Seller's perspective).

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Rainmaker
312,169
Glenn Roberts
Retired - Seattle, WA

We're seeing the same in Seattle, Stewart. The decline in listings here is seasonal. Been that way for twenty years heading for a low on Jan 1st. "Sales up" is nice. I've noticed our pendings climbing.

Oct 30, 2010 09:28 AM #1
Ambassador
1,016,515
Harry F. D'Elia
Uptown Realty - Phoenix, AZ
Investor , Mentor, GRI, Radio Coach, REOs, ABR

Perhaps, the banks are not putting as many properties back out on the market-banks holding back inventory in my marketplace to create the same thing.

Oct 30, 2010 09:37 AM #2
Rainmaker
265,530
David Ames
Zephyr Real Estate, San Francisco - San Francisco, CA
San Francisco

Great news for your area, Stewart...here's hoping the momentum continues.

Oct 30, 2010 01:05 PM #3
Rainmaker
868,600
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

Very encouraging sign. Now take that progress and put it on a train-no, a plane- eastward. We could use some! 

Oct 30, 2010 11:54 PM #4
Rainmaker
274,022
Franklin & Brentwood, TN Homes Mike Nastri - Rodney Kennedy
Keller Williams Realty - Franklin, TN
It matters to us as much as it matters to you.

Looks like some good trending going on there and from the comments the trend in a few other places too.

Oct 31, 2010 12:03 AM #5
Rainmaker
563,073
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Stewart,

I've noticed listings down in a number of areas as well.  As you stated this should lean in the sellers direction.

Steve

Oct 31, 2010 01:16 AM #6
Rainmaker
448,405
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Very good news for your market Stewart. Looks like a bit of balance is being restored.

Oct 31, 2010 09:34 AM #7
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Rainmaker
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Palm Springs Realtor Stewart Penn

Bennion Deville Homes - Broker Associate
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