I have been watching for some time now the inventory of homes in Frederick County. I usually watch the total number of homes, the new contracts, and new listings. My information comes for the listing information in the Metropolitan Regional Information Systems (my MLS company).I have always been a numbers guy. My montra in my prior life as an District Ops Manager was "In God we trust...all others bring data!" I was alittle surprised to see the low numbers. I like to see a small snapshot of the industry... it helps me gauge immediate trends. The numbers I monitor, are what goes "under contract in the last 7 days". Today it was 59. January had an average of 75 per 7 days. (and Month to date was 149) This gives me an idea of what is potentially going to leave inventory. (unfortunately, even though you go under contract, doesn't always mean you make it to settlement) One of the other numbers I watch is the number of "new listings in the last 2 days". (don't ask why this one is only the last 2 days and the other is the last 7...that's the way I like to look at the list) But anyways, the listings today were 49 (usually about 60) with a month to date of 266. Either way you look at these numbers one is bigger than the other. This is a tell-tale sign that the inventory will climb. (this does not mean the sky is falling) The total inventory is 1108. (everything but rentals) I did see a small spike in sales last month, but this month seems to be a little sluggish. The snow may have had alot to do with it... or the small increase in interest rates. Only time will tell.
No comments:
Post a Comment