As we close the books on May 2008, it looks like the best month of the year for SFR sales west of Sepulveda. Also, inventory stayed flat.
MBC recorded 22 new listings
hitting the market in May and 21 sales (new escrows)
in the 31-day month. That's pretty good balance.
Several listings canceled, and some others returned from failed escrows, but at the end of May, we show inventory at 105
, just below 107 at the end of April.
Compare 2008 to 2007, and this year's numbers continue to look good. In May 2007, MBC recorded 29
new listings and 20
sales (new escrows) that stuck.
Here's our rundown of sales (new escrows) to date by month:2008 Sales (New Escrows) by Month
Sales are still way off for the year, and prices are clearly beginning to drop, but let's give a shout out to the month that was. More detail to come in our MB Market Updates later this week.
UPDATE: The original version of this story noted 22 new escrows in May. Since the story was posted, one escrow failed and the home returned to market.