Welcome back from the long holiday weekend everybody – hope it was great!

I took off the last five days to help my mother with moving, so I’m just getting back in the swing.  After checking the November sales yesterday (repeated below), the pendings for this month were expected to be gloomy.  But as you’ll see, the ultra-low mortgage rates are helping motivate buyers and sellers to get together:

Month/Year # of Pendings
Nov. 2008 2,355
Nov. 2009 2,420
Nov. 2010 2,233 (so far)

Yes, we’ll see how many close, but let’s also tack on at least 10% more sales to the 2010 number below to account for the late reporters – here are the closed counts, as of today:

Month/Year # of Solds Avg. $/sf
Nov. 2008
Nov. 2009
Nov. 2010

The vacant properties are a curiousity, here is how today’s active listings compare with previous:

Month/Year # of Vacants/Total Active Listings Percentage
Oct. 2008
Feb. 2009
Nov. 2010

Even the sellers of vacant properties are reluctant to sharpen their price. The avg. days-on-market is 88 days, and only 25% of the listings are REOs!

author avatar
Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

Pin It on Pinterest