Monday Morning Market Memo, December 7-17, 2007

The inventory continues to drop for the winter season while the sales appear to hold fairly steady.  For the fourth week in a row, there are more closed sales than new listings.  This will probably continue well into January.

Once again, it is obvious that well priced, and well presented homes in this market are going to attract attention. 

Average Price DOM
New 12 $190,500 .
Total Active 743 . .
Pending 22 $210,579 104
Closed 22 $232,575 95

I notice several homes hitting the market with construction dates of 2008.  These are builders beginning new homes now with hopes of selling them in the spring.  In addition, several of the pendings are pre-solds.  These are homes under contract, but not yet built.

This just points out that while our market is not as strong as it was 2–3 years ago, it certainly isn’t dead.  It is still a healthy market even in mid-winter.