1. Homes under contract are up 64.9% for the past 12 months. Sold listings are up 7.9% and inventory is down 11.8% over the past year.
2. The MSI is down over the past 12 months by 24.6%. In December 2011 we were dealing with a 90 month supply of homes on the market based a sales activity that month. We’re now dealing with just a 11.6 month supply of homes.
3. The Residential Sold Average vs Median Price, notes that the last three months indicate upward pressure on sold prices. There were a couple large sales in March that skewered the average.
4. The condominium Supply Demand Units, notes the decrease in inventory.
5. The Month’s supply of Inventory for condominium, notes the 28.3% decrease in MSI over the past year to a current low of just 10.4 months.
6. The Sold Average versus Median Price for condos, notes the 29% and 34% decrease in sold prices for condominiums.
The market share charts for volume and units look great as does the trend charts for market share in both the volume and units. Based upon the number of opened sides (seller or buyer), April and May should be great closing months. Closed units in January, February and March of 2012 were ahead of the same months in 2011.
Our market has changed. The past couple of sales meetings we have been discussing multiple offer and backup offer strategies and the need for more listings. If you would like copies of the charts used for the above, email me at kencash@tahoeliving.com.
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