Saturday, March 1, 2008

February Market Statistics

Running around quite a bit today with 2 buyers. That's good news of course. Met with my favorite home inspector today, Nick Boekenoogen of Liberty Inspections (you can reach Nick at 602-818-1870 if you need a home inspection), and he said he's busy lately too, with 3 home inspections scheduled today alone. We both knocked on wood and agreed the market is showing signs of coming back to normal.

 Anyhoo, a quick statistical update. There are currently 55,746 properties for sale in the MLS. I'm not counting those homes under contract but taking backups (which the MLS terms "Active with Contigencies"), but I am including condos and townhouses/patio homes.

3,329 properties sold in February 2008. That's a 16.74 month supply of homes for sale. Not great. We've still got too many homes for sale, and too few buyers in the Valley. I use Elliot Pollack's numbers to judge "normal"; he says 35,000 for sale and 5,000 selling a month is normal. Based on that we're a long way off.