Market Trends
I have done research and compared the market last year in September 2008 to this year in September 2009. These numbers are for single family homes. Here are some of the results:
Daly City:
Inventory down 49%
Properties under contract up 12%
Months supply of inventory down 79%
South San Francisco:
Inventory down 60%
Properties under contract up 90%
Months supply of inventory down 88%
San Bruno:
Inventory down 60%
Properties under contract up 9%
Months supply of inventory down 66%
Millbrae:
Inventory down 34%
Properties under contract up 67%
Months supply of inventory down 69%
In all four cities the inventory is down while properties in contract are up. Meaning supply is low and demand is high. Competition for homes in these cities is high, but it is still a great time to buy. This also means that home owners considering selling their home may want to contact a Realtor to see what their home is worth and think about weather it makes sense for them to sell or move at this time. The market has definitely changed for the better and this is a great sign for things to come not only for the housing market, but for our economy as a whole.
This Real Estate Blog is by Adam Chinn
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4 Responses to “Market Trends”
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Supply and Demand — your research paints a clear picture!
Great post.
Larry
Great info Adam. Someone once said, don’t let a good recession go to waste. What a great time to buy!
Adam,
Thank you for your hard work in pulling all the stats together and assembling them in a very easy to read format.
Your information confirms in black and white what we many of us have as a gut feeling.
Lots of buyer activity with less inventory to choose from equal firmer prices.
Well done!
Brian
Adam, thanks for putting these stats together. Definitely seeing the inventory going down lately, which could be good news for home sellers who are willing to price their homes at reasonable levels. It’s also a good reminder for prospective home buyers that if they find a home they like, they might not want to submit “lowball” offers.
Jean