Are you ready to talk about declining inventory as Spring nears Summer?
The new MB Market Update spreadsheets are up online for your viewing and use by clicking here, or at any time by using the pull-down menu on the front page under "MB Market Updates."
What you're going to see, for instance, on the tracking page,…
Are you ready to talk about
declining inventory as Spring nears Summer?
The new MB Market Update spreadsheets are up
online for your viewing and use by clicking here, or at any time by using the pull-down menu on the front page under "MB Market Updates."
What you're going to see, for instance, on the
tracking page, is more sales than new listings.
We show
14 new escrows and
10 new listings in this 2-week period at the start of May. Though 2 of those new escrows belong to prior periods (we're just catching up), there's no denying the balance tilt toward clearing, not new inventory.
Pause to reflect. It was conceivable, given the sales pace earlier in the year, that a "sell" signal would have been received by potential sellers on the fence, and we'd gradually see a growth in inventory. If this were offered as a bet in Vegas, your blog author might have put some money down. But for now, we don't see a swell in options, just a burst of buyer activity.
The spreadsheets and writeup here cover the 2-week period from May 1-May15.
Total inventory dropped by 5 listings from the end of April, reaching
79 SFRs at mid-month.
Inventory by sub-region west of Hwy. 1 (for more see the
tracking page of the spreadsheets) broke out this way:
Of the sub-sections west of Sepulveda, it's the Tree Section that had a big drop:
-6 from just 2 weeks ago. That's partly because of the rush of sales mentioned yesterday in "
Buyers Raid Trees."
More soon on activity in each part of town.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 12:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.