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foot traffic

These guys are making the pitch for why potential sellers should list their home (with Jim) and sell now, using NAR stats that show foot traffic is up, and inventory is down:

http://www.keepingcurrentmatters.com/2015/06/29/two-graphs-that-scream-list-your-house-today/

Historically its been said that six months’ worth of inventory is ‘normal’ and demonstrates a healthy market.  But it doesn’t take into consideration the buyers’ behavior in a tight-inventory environment, and how the internet has supercharged the dissemination of new listings.

I’d say about 3 months of inventory would indicate a healthy market today.

Let’s break it down by price range too, because different segments are hotter.

NSDCC Detached-Home Inventory:

Price Range
# of Active Listings
# Sold in June
A/S = Months’ of Inventory
0-$800,000
111
66
1.7
$800-$1.4M
299
164
1.8
$1.4M-$2.4M
280
71
3.9
$2.4M and up
398
30
13.3

Sellers can adjust accordingly – the lower your price point, the more likely you will be able to sell for retail, or retail-plus. If you are in the upper region, you should undercut the competing listings nearby because, well, how should we say it, your market is bloated-plus.

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