Inventory vs. Sales, First Third

May 1, 2012

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The local MLS assigns the listing numbers chronologically, making it easy to tell how many properties have been listed each year.

As of May 1st, here are the approximate number of listings inputted for the first third of the year:

2009 – 25,800

2010 – 26,600

2011 – 25,300

2012 – 22,400

So yes, the inventory is down about 12% this year, yet sales are remarkably stronger. Here are the closed-sales stats for Jan. 1st to April 30th period, and you can add a little to the 2012 numbers.

SD County Detached Homes

Year	# of Sales	Avg $/sf	DOM
2009	6,749	$214/sf	65
2010	6,429	$243/sf	62
2011	6,469	$236/sf	79
2012	6,957	$229/sf	79

NSDCC Detached Homes

Year	# of Sales	Avg $/sf	DOM
2009	509	$392/sf	72
2010	726	$380/sf	74
2011	787	$372/sf	84
2012	824	$365/sf	86

I think the quality buys are selling faster and for more money, while thousands of overly-optimistic sellers are sitting stagnant (which stretches out the days-on-market stat if they eventually sell). That’s why it seems like there is no inventory – the good ones sell right away, and only the people who are paying close attention will see them. Otherwise it just looks like an OPT convention!