These numbers are not to be believed. I didn’t when I first ran them. Right now there are 12,095 residential properties with offers on them. Yes, 12,095. I just had to look again. Of these, 6,399 are bank owned and 4,427 are short sales. There are 15,046 properties currently for sale. This market is hot!!!
Sales in April numbered 3,885, the most for this time of year since 2005. Of these sales, 3,065 were bank owned and 318 were short sales.
Sales $100,000 and under 1415
Sales $101,000 to $200,000 1658
Sales $201,000 to $300,000 523
Sales over $301,000 285
The most important information though, is this. There is currently a 6.62 month inventory of homes in the MLS. The buyer’s market is over. 8 or more months of inventory is considered a buyers market. 5 to 7 months of inventory is a a normal market, favoring neither buyers or sellers. Under 5 months of inventory is a sellers market.