New listings of short sales and REOs are lagging well behind previous years, but non-distressed listings are higher than last January:
NSDCC New Listings, January 1-28th:
Below you’ll see that this year’s sales are the highest since January, 2006.
Last month’s average was $403/sf – we’ve had an 8% increase M-O-M, and a 16% increase in average pricing, year-over-year:
NSDCC Sales/Pricing January 1-30th:
Numerous bidding wars are causing buyers to pay well over list price, resulting in rapid appreciation (this month’s average SP:LP is 101%). With the large influxes of cash, it should be sustainable – until it isn’t!
I don’t remember getting an 8% raise this year.