The swings in the median home price in the townhome/condo market has everything tondo with what's available on the market for purchase. This market segment is the least expensive and attracts many investor buyers. If larger units are avaiable, price swings higher. If not, then that is reflected as well.
Many factors affect days on market in this category. - supply, health of HOA, % of allowable rental units, acceptance by FHA, number of homeowners in arrears on their HOAs. Seeing swings in market time is not unexpected.
The measurement of demand is somewhat harder to gauge if supply is down. Would more people buy if supplyvwas there? Probably. But this down arrow really reflects just a one unit change. Not much to worry about.
This illustrates my above point. A 77% decrease in supply is significant. At less than one month's supply, this is the lowest level market supply I've seen in Livermore.
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