Comments on: Lake Martin Posts Best Real Estate Sales Month In Post Bubble Era

By: John Coley

John Coley — Thu, 10 Sep 2009 18:50:36 +0000

thanks Milan, hopefully we are all on the way out of this ….

By: Milan in Eugene

Milan in Eugene — Thu, 10 Sep 2009 17:27:34 +0000

Nice breakdown & analysis, and of course it’s good to see home sales pickup. Different markets in the country are definitely in different phases of the economic cycle, and it looks like you may be further along the cycle than we are here in Oregon.

By: Ralph D Bredahl

Ralph D Bredahl — Wed, 02 Sep 2009 17:54:42 +0000

We are Realtors in the Phoenix Arizona and have been hit harder than most areas with foreclosures. It is difficult to find properties that are not lender owned (unless they are short sales which will soon be lender owned in most cases)
However, there is a silver lining in the market. Buyers are returning in large numbers and REO’s are selling in a few days with multiple offers being the norm. I too believe that a new wave of foreclosures is due soon but, at least here, the savvy buyers are ready, willing and able.
It is an exciting time to be a Realtor in the Valley of the Sun.

By: Amy

Amy — Sat, 22 Aug 2009 21:01:53 +0000

I’m just so glad to see home sales up in our area. Congrats on all your sales.

By: John Coley

John Coley — Fri, 21 Aug 2009 18:02:20 +0000

Thanks Ron, and great questions. Looking strictly at July, 28 sales in the month with 523 active listings = 18.68 months of inventory. But that is a little misrepresentative, I think. Eyeballing it, I would say the 60 rolling average months of inventory is about 23. This is a lot better than this time last year, when the eyeball amount was about 30. The trend – downward – is more important IMO than the #. Maybe I will start tracking a rolling average months of inventory. Other readers have requested it also.

Lots – great question. No, this does not include lots. I will do lots in a follow up post. Only 7 waterfront lots have sold ALL YEAR through the MLS. A few have sold through bank foreclosure. But there are 187 for sale at July – so that is like 160 months of inventory in the 60 day rolling average. That’s over 13 years’ worth. Ouch. This is the same as 2008.

Thanks! This questions are super helpful for me to formulate my next post and ponder angles that I had not considered previously.

Anyone else have any more?

By: Ron Botterbusch

Ron Botterbusch — Fri, 21 Aug 2009 17:34:47 +0000

John, Once again nicely done. If I am reading the charts correctly, it looks like +/- 100 homes have sold year to date, or +/- 14/month. With the inventory being +/- 525 homes, would you say there is
about a 3 year supply currently on the market? Also,
are waterfront lots considered separately? If so, how are they doing?
Best,
Ron