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We seen the local NSDCC detached-home inventory hovering lately, instead of dropping off as expected.  Two other signs, declining sales and SP:LP, make it look like buyers are gaining  more control as we head into Halloween week.

The number of sales between August 15 and October 15 are down 18% from last year (and 25% from 2012), though there will be some late reporters:

Year
# of Sales
Median SP
Avg SP
SP:LP Ratio
Avg DOM
2011
444
$822,500
$1,052,013
91%
86
2012
618
$838,500
$1,116,907
95%
76
2013
559
$994,300
$1,324,491
96%
52
2014
461
$1,050,000
$1,418,498
94%
50

Buyers should stay engaged, if for no other reason than the low rates.  The dwindling new listings coming on the market should be ‘motivated’, and if you don’t mind weeding through the long-time listings there should be some deals in there too.

Jumbo rates

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