You know, this evening I was just thinking about the huge inventory in Laguna Woods Village these days, and calculated how long it would take to sell everything. (I do quite a bit of business in Laguna Woods, as well as in Irvine.)
28 homes sold last month, and 36 sold in December, so let's assume that 32 homes will sell each month.
As of today, there are 388 Laguna Woods Village homes for sale. Divide that into 32 home-sales expected per month, and I calculate that it will take 12 months to sell all 388 homes!
That's a year, people! Think this might put Laguna Woods Village buyers in an even better position...
But what about all the new listings that will be added to the inventory over the next year, you ask. And what about the listings that expire? Of course you're right - those are great points.
As about 50 homes expired on average the past two months, and about 85 average were listed, that looks like our net inventory will grow! So maybe it'll take longer than a year to get all the Laguna Woods inventory sold? (Gulp!)
Well, maybe more sellers will become landlords, (leasing their homes, rather than selling them), causing the inventory to drop, or at least not grow as much as my calculator suggests!
Stay tuned, and keep dry out there......
Debbie
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