Pending Sales

PENDING or Under Contract

From the low of 257 units in December of '07 to the height shown of 1,258 in March of 2011 our peaks and valleys remain generally consistent in their timing no matter what circumstance surrounds the economy. The fringe of the season's beginning is already taking form and is expected to supersede the prior four years in units sold. I can attest that business has been brisk leading into this point and that's refreshing to see in direct correlation to the trend line.

Above is the past year of activity and it shows a fair amount of strength in our Single Family Home market. The trend and average lines are in virtually the same plane so we're comfortable that this this segment will continue hold it's numbers. In other statistics you might see the rise in asking prices due to this activity although that is only wishful thinking on the part of many Sellers. The reality is that there has been a slight decrease in prices on the Sold side. Not to an alarming degree yet it is measurable.

The average in the Condominium sector is holding true although the trend line shows some weakening. There are two reasons this is happening and they are reduction of sale-able inventory and lack of financing. As both of these tighten the choices fade away. This time of year we expect to see the inventory grow exponentially within the next month. The higher quality and realistically priced units will be the first to sell. Our window is about 6 months in order to have this happen and with REO and Short Sale property left in poor condition the trend could effectively drop further. After December's statistics come on board we'll be able to predict the season's anticipated activity much, much better.