It’s that time again – time to create the 1st Quarter Market Watch Report! Please check the MLS system to make sure all your sales are reported correctly, that your pending listings are marked and the data is accurate. Looking at the preliminary numbers, we ask … where are all of the listings? Inventory is down with less than 7 months absorption countywide. We had 901 homes on the market at the end of March, compared to 1,053 last year and 1,355 the year before. A lot less inventory!! Residential sales slowed from 235 transactions in the 1st quarter of last year compared to 203 this year. We are also seeing pending sales slower than the same time last year – which was a banner year for our market.
Expect the full MarketWatch report in the next recap.