Does inventory seem tight?
Does it seem like all the good stuff sells quickly?
From the standpoint of a buyer who's searching, yes, it certainly does. And your blog author is more and more influenced by that perspective, representing clients who are looking.
But it's not just perception. Look at some data.
Take the…
Does inventory seem tight?
Does it seem like all the good stuff sells quickly?
From the standpoint of a buyer who's searching, yes, it certainly does. And your blog author is more and more influenced by that perspective, representing clients who are looking.
But it's not just perception. Look at some data.
Take the biggest possible sample of MB real estate inventory as of Feb. 15, 2012.
There are
93 SFRs, THs and condos active on the market across all of MB. In some past years we've seen inventory of 100+ or so among just SFRs west of Sepulveda at an inventory peak.
But there are
70 SFRs, THs and condos now
in escrow citywide.
93 to 70. Call that
1.3:1 as an active to pending ratio. Quite nearly as many pending deals as active listings.
Consider Hermosa, where the ratio is 47 to 21. That's
2.23:1.
How about PV? It's 245 to 123, basically
2:1, twice as many actives as pending.
Torrance, maybe surprisingly, looks like MB: 206 to 157, or
1.3:1.
Is this a perfect measure? Of course not.
But it's one way of expressing that feeling we are nursing:
Doesn't it seem like there are a bunch of sales and little new inventory?The terms "buyers' market" and "sellers' market" in RE are defined by closed sales in a given period against actives, not pending sales measured against active listings. So we can't use that terminology to describe what the data are suggesting here.
But do buyers these days feel stressed, or sellers? Right now we imagine the sellers as the happier bunch.
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 November 30th, 2023 at 4:46pm PST. 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.
