As we’ve been stating the last several weeks, buyer calls have increased recently and showings have increased. We believed this was a favorable sign and could lead to a turnaround in Active sales inventory decreasing and Pending sales increasing. Both occurred this past period. For the first time all year, inventory decreased and pending sales went up.
The amazing thing is it happened since Thanksgiving and in the first week of December, not traditionally strong showing and selling times. This could bode well for a strong season as buyers have figured out that home sales are much more affordable this year, interest rates have actually gone down, and sellers have succumb to the fact that they must lower their List Price to get down to where the buyers are. The sellers that have done that are selling. The buyers haven’t left the tablem they’re still there, and they’re starting to bite.
Condo sales haven’t changed to the favorable side just yet, however we wouldn’t expect a change until season as condos are more seasonal.
Lee County Florida Current Market Statistics.
|December 8,2006||Active||Pending||Months Supply of Inventory|
*We project there will be approximately 9,048 single family closings reported in Lee County MLS, and approximately 3,144 condo sales reported. Months supply of inventory are based upon these projections.
|November 27,2006||Active||Pending||Months Supply of Inventory|
|November 9,2006||Active||Pending||Months Supply of Inventory|
|October 18,2006||Active||Pending||Months Supply of Inventory|