I wanted to talk about the pie chart a little bit this week. The left side (green & yellow) are all about the pended and sold listing from last week while the right side (blue, orange & grey) are all about the new & stale listings. Look at the green/yellow area compared to the rest... You'll note that 60% (more than half) are listings that have been taken off the market by being sold or pended while the other 40% is new listings, back-on-market listings & price reductions. So for last week we definitely see a shortage of inventory for sure! (Whatcom County residential only minus manufactured since they scale the list prices too much to get accurate numbers.)
Looking at the past 30 days our inventory is 1.4 months which is a shortage. Months of inventory is how long we have until all the current listings would sell if 0 new listings came on the market.
Got questions about your neighborhood or condos or manufactured homes? "I have a stat for that!" You know who to call and it's not Ghostbusters...
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