One of the biggest frustrations is that our MLS police, Sandicor, allows listing agents to leave their short-sale listings in the active category, even though they have an accepted offer.
They are supposed to mark the secret box, “accepted offer, subject to lender approval”, but I don’t think it is made obvious on any publicly accessible website.
As a result, buyers are perusing the MLS, finding homes they’d like to buy, only to find out later that they already have an accepted offer. What’s worse is that the buyers who have the accepted offer feel like they are being shopped around by the listing agent (they are), and are more likely to blow out. That’s not in the sellers’ best interest, is it?
Check out the current inventory, and how it compares to previous Aprils:
4/07 = 20,122
4/08 = 21,257
4/09 = 13,351 – 2,101 = 11,250
There are currently 2,101 active listings that are marked as having an accepted offer, subject to lender approval, yet the public doesn’t know it. You deserve to know the truth.
Did you know the active inventory was that low?
The all-time low inventory was 2,301 in 3/04.
Previous April inventory counts from BMIT (any comeback in the works?)
Attached and Detached properties that went pending between Jan. 1 and April 20:
2007 – 9.205
2008 – 8,050
2009 – 12,197 (previous years have all closed)
Attached and Detached properties that SOLD between Jan. 1 and April 20:
2007 – 8,173
2008 – 6,092
2009 – 8,608
Average Sales Price and $-per-sf for those SOLD between Jan. 1 and April 20:
2007 – $598,258, $348/sf
2008 – $516,431, $287/sf
2009 – $353,476, $209/sf