Lots of inventory and very audacious offers!

We track the local sales and new listings in our local MLS system on a weekly basis.  I would speculate that we are not alone with the plethora of inventory available for buyers to consider.  Last week in the residential category alone (not lots or commercial properties) we had 1776 properties on the market.  Since the 1^st of the year or 9 weeks, 166 property transactions had closed out in our MLS system.  At that rate of closings, we have about 2 years of inventory currently to absorb without more new listings coming up for sale. 

We have had a rash of buyers submitting absurdly low offers which had no chance of acceptance.   Certainly buyers are sitting in the proverbial catbird seat and I am glad I customarily work with more buyers than sellers!