New Recent Peak: 71 Listings

By Dave Fratello | June 28th, 2013

You'll remember that just the other day we were musing about inventory and trends in the market. (See "Calming? Maybe Later.")

We referenced a buzz among some wise old hands in MB real estate, who have been saying "inventory is going to grow now and the shocking upward pace of price increases will flatten out. When buyers have more choices, you will see fewer bidding wars."

Well, we've got the first premise there coming together.

In the past 7 days, there have been 18 new listings, and we expect a few more to post today.

On the brokers' open tours this Friday, there are at least 18 properties to see for the first time. (Not necessarily all the same as the week's new listings.)

In one week, with those 18 additions, there were "only" 9 properties that made new deals, pushing inventory up by a net +9. 

The total of all SFRs and THs in MB now: 71 as of early Friday. That's the highest level we've seen since... well, we can't recall.

We found a nifty online source that tells us MB inventory was at 92 in June 2012 and 77 in July 2012, and pretty much trending down thereafter. It sounds about right. (Our chart here is from the Movoto site.) 

So: A slow Summer with few new listings because "everyone is away?"

Not right now.

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