It's considered normal for a market to have six months' worth of inventory, where the number of homes for sale this month equals 6x the number of sales last month. Our market has done better over the last few years, and three months' worth seems normal now: Here are...
Above is what's coming for the next six months, and it's going to be a slugfest as buyers and sellers grapple with price. The relation of sales price to the days on market will be exact. How much should buyers offer as we cruise into lowball season 2H24? The price...
It's the last business day of June, and while there will be a few more sales added to this total, there will be at least 10% fewer closings than last month: The median pricing is higher this month, but I don't think that means home prices in general are rising. It's...
The last time a new season of “Million Dollar Listing Los Angeles” aired on Bravo, the show was its usual unbridled celebration of infinity pools, imported marble and luxury amenities that historians will cite if they ever have to explain the collapse of civilization...
Today, there are 488 NSDCC active listings, which is the most in almost four years! This is what it feels like when actives are stacking up. The hot new listings still sell in the first week, but more and more don't fit that description and only have to endure an...
Yesterday's blog post identified one solution for buyers which we'll call the Gunslinger Special - where you wait patiently for the perfect home and when it hits the market, call JtR and give it everything you got. What are the other options? First, let's note that...
In mid-August, the new rule takes effect that NO buyer-agent commissions will be advertised on the MLS. Technically, sellers paying commissions to the buyer-agents will still be allowed for now - they just have to be negotiated outside of the MLS. There will be...
Our home values have been detached from "key economic factors" for years. More interesting would be studies that analyze what would happen to areas that are full of the older tract homes (1980s and before) that haven't been improved much and are dumped onto the market...
Here's a snapshot of how fast the local market has changed. It went from a relatively-modest suburban area where 3/4s of the houses sold for less than a million dollars in 2003......to a very affluent market! NSDCC Detached-Homes Annual Sales True, the inflation rate...
NSDCC Listings, Jan 1 - May 15 Can we use statistics to describe the market conditions today? This chart above helps a little. Even though the number of listings is drastically lower than it used to be, apparently the market has been adjusting - mostly by price! I...
