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I'm requesting that only realtors respond to this thread because I'm interested in hearing how the market has been doing in various mls areas for the January through April period.
Has your overall housing inventory increased or declined?
Have the number of sales increased or declined?
Has the DOM increased of declined?
Have the prices decreased, leveled, or declined?
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Is any segment of your market receiving multiple offers?
Have more buyers started looking in your area?
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc?
What are the buyers looking for; price, location, best house, etc?
I'm not asking for speculation on where the market is going, only factual information on what trend you may have been seeing in this first 4 months.
Has your overall housing inventory increased or declined?
Our inventory is down about 12% since the beginning of the year.
Have the number of sales increased or declined?
Sales have decreased YTD from last year but if only 30% of the pending sales close it would bring it right back to where it was. Pending sales are way up because of the time frame to get an answer on the short sales.
Has the DOM increased of declined?
DOM have gone from 122 to 130 YTD.
Have the prices decreased, leveled, or declined?
Median price YTD compared to last year is down about 11% but since December we have fluctuated between $160 and $165 month to month so it seems we have leveled off.
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Short sales and REO's have definately increased but have also seen many resales come down to earth on price and move.
Is any segment of your market receiving multiple offers?
I have an offer in right now on a property with 4 offers.
Have more buyers started looking in your area?
We have seen an increase in buyers since the beginning of the year.
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc?
Bargain hunters and second home buyers.
What are the buyers looking for; price, location, best house, etc?
Looking for a deal
Has your overall housing inventory increased or declined?
Inventory levels in the higher priced areas are up maybe 10%. In the lower markets up maybe 30% or more and rising.
Have the number of sales increased or declined?
Declined, without question. Locally in our immediate area I'd say off probably 30%. I'm told though that the Pittsburgh metro area is off overall just 12% to 15%.
Has the DOM increased or declined?
Increased, significantly. Many listings now headed for the second year term.
Have the prices decreased, leveled, or declined?
Stayed the same, there's been no wholesale slashing by those selling. We're really not in a buyer's market nor seller's market here at the moment.
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
They haven't increased so no answer.
Is any segment of your market receiving multiple offers?
There hasn't been a good multiple offer session in quite some time.
Have more buyers started looking in your area?
Yes, showing activity is steady, even increasing perhaps. But I've noticed they're looking at one specific listing and no others. There's a real shortage of those who want to go out for a day and view several places to consider.
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc?
Rough breakdown here would be maybe 25% move-ups, 25% investors and 50% bargain hunter/low baller.
What are the buyers looking for; price, location, best house, etc?
The move-ups are looking for location and best house, schools. The investors are looking for bargain units already rented. The others think they're at a flea market and want houses at giveaway pricing.
We're south of the Pittsburgh market itself and don't have the major swings of move-ins/move-outs like the larger metro areas. No big influx of buyers coming in for new jobs, no big exodus due to economic collapse. A lot of the inventory increase for us is coming from kids selling off Mom's house now thatshe's gone type of thing. They're staying on the market longer and that adds to the illusion that we're in panic mode.
But what's really hurt is there were only so many qualified buyers in a given year and those numbers have been cut by at least a third. That third probably shouldn't have bought in the first place as we're seeing a rise in short sales and foreclosures. I'd call it a natural correction.
Has your overall housing inventory increased or declined? Increased
Have the number of sales increased or declined? It’s increasing as the months go on as is the normal trend, but we are at 48% listings to sold, when our normal market is 60-65%. Inventories are heading into the double digits.
Has the DOM increased of declined? Increased slightly based on the data BUT there are a lot of relisings, so I would have to unofficially say it is increasing.
Have the prices decreased, leveled, or declined? They had been declining by about 3% since the beginning of the year.
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Is any segment of your market receiving multiple offers? While I am sure there are some, it is not the norm. I think well priced investment properties are getting some attention.
Have more buyers started looking in your area? Yes a lot of looking, but not a lot of action.
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc? Here I am seeing investors and bargain hunters.
What are the buyers looking for; price, location, best house, etc? Great house at a great price. They want it all.
Location: Danbury CT covering all of Fairfield County
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Has your overall housing inventory increased or declined?
Increased
Have the number of sales increased or declined?
Overall, year to date compared to last year is as following:-21% single family homes,-30% for condos and -58% for land.
Has the DOM increased of declined?
Yup about 2 weeks for single family homes and condos compared to last year and up 2 months for land.
Have the prices decreased, leveled, or declined?
Leveled off
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Is any segment of your market receiving multiple offers?
Well priced REO's, good value starter homes as well as some waterfront properties.
Have more buyers started looking in your area?
Yup, more going up from NYC than usual and the suburds closer to NYC.
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc?
First Time Buyers, Moving Ups or people looking for a weekend home.
What are the buyers looking for; price, location, best house, etc?
location and price.
I think the accompanying graphs tell it all for my Prescott, AZ real estate market.
Buyer activity seems to be picking up lately. However our inventory continues to increase as March and April saw many new listings and relists hit the MLS. One trend that is becoming apparent, though - as prices decrease, buyer activity increases.
I have been fortunate to be able to work with several buyers since November of last year. Almost all of these were out-of-town buyers relocating to the the Prescott area. One was a local buyer looking for an investment property. Two buyers had very specific housing needs/wants, so finding the perfect home was the challenge. The rest wanted a home that fit their criteria, but they wanted a "steal of a deal", too. I think all my recent buyers are pleased with their new homes and the price they paid for them.
Now here's those graphs showing real estate trends in my area.
Has your overall housing inventory increased or declined? Declined 25%
Have the number of sales increased or declined? Declined
Has the DOM increased of declined? Increased 4.5%
Have the prices decreased, leveled, or declined? Increased
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds? Resales
Is any segment of your market receiving multiple offers?
Have more buyers started looking in your area? No
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc? Mix of all with move ups/downs being the least
What are the buyers looking for; price, location, best house, etc? Location, Best Home at a decent price
[quote=Captain Bill;3739785]I'm requesting that only realtors respond to this thread because I'm interested in hearing how the market has been doing in various mls areas for the January through April period.
Has your overall housing inventory increased or declined? Declined
Have the number of sales increased or declined? Increased
Has the DOM increased of declined? steady
Have the prices decreased, leveled, or declined? leveled
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds? everything but new builds
Is any segment of your market receiving multiple offers? yes, our well priced REO's. Short sales also bring in multiple offers but in many instances it's first come/first served.
Have more buyers started looking in your area? yes
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc? all of them but need to buy
What are the buyers looking for; price, location, best house, etc? That depends on which buyer I'm working with. My second home people are looking for the best house/location. My first time and investors are looking at price.
Last edited by palmcoasting; 05-12-2008 at 05:59 PM..
Reason: missed a question
I'm requesting that only realtors respond to this thread because I'm interested in hearing how the market has been doing in various mls areas for the January through April period.
Has your overall housing inventory increased or declined? increased
Have the number of sales increased or declined? declined
Has the DOM increased of declined? 3-6 months, about the same
Have the prices decreased, leveled, or declined? decreased
If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Is any segment of your market receiving multiple offers? no
Have more buyers started looking in your area? See below
Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc? bargain hunters
What are the buyers looking for; price, location, best house, etc? price
I'm not asking for speculation on where the market is going, only factual information on what trend you may have been seeing in this first 4 months.
Have more buyers started looking in your area? Yes, but they are the retiring group from other states buying in 55+ communities (fishbowls).....own the house, rent the land, and buying directly from the developer. Because of no sales tax, and very low real estate taxes, we are becoming the 'retirement state' and transplants are coming in droves. Young, bright professionals have little interest in moving here. (there goes the real estate market).....an aging population.
I'm a certified residential real estate appraiser and hold a real estate license, also
* Has your overall housing inventory increased or declined?
Declined, down 15% from a year ago.
* Have the number of sales increased or declined?
Declined, 31% from a year ago.
* Has the DOM increased of declined?
Increased, up to 78 days from 65 days a year ago.
* Have the prices decreased, leveled, or declined?
Declined, 9.4% from a year ago (median).
* If sales have increased, what segment of the market has caused the increase; Short Sales, REO's, normal Resales, new builds?
Doesn't really apply, but there are definitely more REO's and SS occurring.
* Is any segment of your market receiving multiple offers?
Only the homes that are priced appropriately
* Have more buyers started looking in your area?
They are beginning to creep out of the woodwork.
* Who are these buyers, investors, relocations, move ups, move downs, need to buy, bargain hunters, low ballers, etc?
The bargain hunters and low ballers still have a place to play with foreclosures and short sales still occurring, but move ups and first time homebuyers are probably the bulk of buyers.
* What are the buyers looking for; price, location, best house, etc?
Yes, Yes, and Yes!
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(there goes the real estate market).....an aging population.
