lnc said:Awesome, please keep these data coming. It would be nice if we know the monthly sales figure too.
At the inventory high, I remember around 2007-2008 Irvine's inventory reached over 800 listings but monthly sales was barely above 100 units. That's about 8 month worth of supply.
And at the inventory low, during late 2011 and early 2012, the inventory level dropped down to just a little over 200 units and sales volume was around 150/month. That's just 1.5 month of supply.
Under 5 month of supply = price goes up
Around 6 month = neutral
Over 7 month = price goes down
I'm guessing during the summer peak season, home sales are between 250-300 per month. And with 551 units for sales, that's about 2 month of supply. Still a very strong up market.
HMart said:Would love to see an update on this for September. Informative thread.
USCTrojanCPA said:HMart said:Would love to see an update on this for September. Informative thread.
531 active listings in MLS, including 38 homes that were built in 2017 (most all of these are new homes) and only 260 listings at $1,000,000 or less. We'll be below 500 active listings in the next 30 days as selling season ends this weekend.
nosuchreality said:USCTrojanCPA said:HMart said:Would love to see an update on this for September. Informative thread.
531 active listings in MLS, including 38 homes that were built in 2017 (most all of these are new homes) and only 260 listings at $1,000,000 or less. We'll be below 500 active listings in the next 30 days as selling season ends this weekend.
How's it work out when you break it out by listing age? Have 30-40% of those listings been sitting for more that 60 days with a make me move price?
So you're really looking at 160 so unit below a million on market?
lnc said:If the home is delisted and relisted again, it reset the number of days count on the MLS right?
There are quite a few homes that has been on sale for a while but also has been delisted and relisted several times. Its more prevalent in the over $1M properties so I think the number of day on the market for these over $1M home are slightly higher than the data shown.
nosuchreality said:Is stronger a bit of an understatement? Is the under a million market basically sub 1 month of inventory? What the over million market two or three?
USCTrojanCPA said:nosuchreality said:Is stronger a bit of an understatement? Is the under a million market basically sub 1 month of inventory? What the over million market two or three?
The sub $1m market is about 1 to 1.5 month's worth of inventory while the $1m+ market is over 3+ month's worth of inventory. The $1.5m+ market is even worse, more like 5-6 months of inventory.
USCTrojanCPA said:nosuchreality said:Is stronger a bit of an understatement? Is the under a million market basically sub 1 month of inventory? What the over million market two or three?
The sub $1m market is about 1 to 1.5 month's worth of inventory while the $1m+ market is over 3+ month's worth of inventory. The $1.5m+ market is even worse, more like 5-6 months of inventory.
My_Alter_Ego said:USCTrojanCPA said:nosuchreality said:Is stronger a bit of an understatement? Is the under a million market basically sub 1 month of inventory? What the over million market two or three?
The sub $1m market is about 1 to 1.5 month's worth of inventory while the $1m+ market is over 3+ month's worth of inventory. The $1.5m+ market is even worse, more like 5-6 months of inventory.
Hey Martin - I saw you at Calistoga this afternoon. Looking good! Aren't those homes almost all sold out?
nosuchreality said:USCTrojanCPA said:nosuchreality said:Is stronger a bit of an understatement? Is the under a million market basically sub 1 month of inventory? What the over million market two or three?
The sub $1m market is about 1 to 1.5 month's worth of inventory while the $1m+ market is over 3+ month's worth of inventory. The $1.5m+ market is even worse, more like 5-6 months of inventory.
So basically, the $1.5M+ market is balanced power between sellers and buyers.
The $1M-$1.5M is a sellers market and fairly strong one.
and the sub $1M market is red hot.