Big Day on the MLS
Particularly active day on the MLS (and the day isn't even over yet). I thought it would be helpful to share with readers that were looking for some more information on listing/seller activity as of late.
New Listings 152
Back on Market 13
Sold 58
More than 100 listings added to the total today, a pretty significant number when you realize its about 0.8% increase in a day. The sales number is pretty telling as well. No doubt inventory is rising when listings are increasing at about double the rate of sales.
Price Changes 145
3 Increases, 4 Corrections, 138 Price Reductions. Compare this with 4-5 months ago when there were very few Price Reductions (and the price change sheet was made up mostly of increases).
For the times they are a-changin'
Caveat Emptor,
-grim
New Listings 152
Back on Market 13
Sold 58
More than 100 listings added to the total today, a pretty significant number when you realize its about 0.8% increase in a day. The sales number is pretty telling as well. No doubt inventory is rising when listings are increasing at about double the rate of sales.
Price Changes 145
3 Increases, 4 Corrections, 138 Price Reductions. Compare this with 4-5 months ago when there were very few Price Reductions (and the price change sheet was made up mostly of increases).
For the times they are a-changin'
Caveat Emptor,
-grim
9 Comments:
I have friends who are agents in the area, they provide me most of the non-public data I post.
-grim
In fact, I feel so strongly about having my own access to data that I was going to incorporate my own RE company, get licensed, and pay whatever necessary fees just to have my own direct access to the services.
grim
Inventories are piling up.Sellers are in denial as they missed the peak. It's over accept it. Instead of making 100% on your home now maybe just 50%.
Now many sellers will just track it lower as buyers refuse to pay obscene prices and bid a lot less.
10% reductions aren't going to cut it.
20%+ reductions coming in next 6 months. then who knows
138 price reductions.
$5000 price reduction on an $799k house.
Laughable.
So much for yesterday being a standout day.. Today's numbers are very similar. Sellers seem to be getting the message. The race to the bottom has begun.
-grim
The insanity is ending.
hang in there. A lot of sleepness nights going forward for many many folks. Watch for lights on late night. Or on recycling collection day, ook for the bottles and cans to start piling up.
Found this board.
Looking at houses a few weeks ago with my realtor in a few No jersey towns. The realtor told me prices not go down but at worse would stay flat.
After reading this board and a few others it sems to me that this realtor only has her best intrest in mind.
I just got my real estate license only so I could get the MLS for a front row seat to the coming crash. Imagine my horror when they told me I had to join the NAR to get the MLS-I can't wait till they lose the law suit the justice dept. has against them.
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RickJ
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