Paragon YTD sales: Comparing MLS sales YTD 2011 with those of the same period in 2010, Paragon’s total dollar volume is up 32%, and our increase in percent market share is 27%. For houses, condos, co-ops and 2-4 unit buildings selling for $2,000,000 and above, our dollar volume is up 62% and our percent market share is up 46%.
Below are weekly market condition charts for sales reported to MLS for houses, condos, TICs and 2-4 unit buildings, for 6 months, through the week ending 10-9-11.
Home Listings Accepting Offers: Last week saw a big surge of listings going under contract, to the highest level since the height of the spring sales season. It will be interesting to see if this continues or is simply one of those big weekly fluctuations that occur every now and then for no apparent reason. As a comparison, in the corresponding week in 2010, the number of listings accepting offers was 104.
Homes for Sale: low inventory levels already decreasing after barely rising in September. Last year at this time there were 2525 listings vs. this year’s 1852 listings for sale in the week ending October 9th – over 650 fewer homes on the market.
New Listings: Many fewer new listings so far this autumn selling season than last year.
Percentage of Listings Accepting Offers: a very high number of offers being accepted + very low inventory = a very, very high percentage of listings going under contract in the week ending October 9th.
Note that the number of listings accepting offers and the percentage accepting offers will be revised downward somewhat as some existing deals fall through. But it is unlikely that enough deals will fall through to change the fact of the significant surge in both statistics.