Sales Snapshot: about 45% of listings selling are going for over asking price; for houses, the percentage is almost 55%; for condos and TICs, the percentage selling for over asking is about 31%.

Over Asking

Houses – 41

Condos/TICs – 21
2
4 Unit Bldgs – 6
Total 68

Under Asking

Houses – 31

Condos/TICs – 33
2
4 Unit Bldgs – 5
Total 69

At Asking

Houses – 3

Condos/TICs – 13
2
4 Unit Bldgs – 0
Total 16

The following are weekly market activity charts for the past 6 months through the week ending November 13, 2011. They reflect activity reported to MLS for houses, condos, TICs and 2-4 unit buildings.

New Listings Coming on Market: as is typical as we get closer to the holidays, the number of new listings hitting the market went into significant decline. This situation will probably not turn around until mid-January. However, considering the number of active buyers out there looking right now, it might not be a bad time to bring new listings on the market.

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Listings For Sale: as has been the case for most of this year, inventory is very low. At this time last year, there were about 700 – a whopping 42% — more listings.

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Listings For Sale: as has been the case for most of this year, inventory is very low. At this time last year, there were about 700 – a whopping 42% — more listings.

click to enlarge

Listings For Sale: as has been the case for most of this year, inventory is very low. At this time last year, there were about 700 – a whopping 42% — more listings.

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Listings Expiring or Withdrawn: the numbers of expired and withdrawn listings will typically continue to increase as we enter the holiday season. The higher end of the market in particular tends to check out for the holidays. Many of the listings expiring or being withdrawn will come back on the market in January.

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Homes Sold: low inventory affects the number of closed sales. The surge of new listings that the market usually sees in September and early October was much lower than last year, but the number of closed sales is almost the exactly the same as in 2010. Considering the level of demand, more inventory would almost certainly have led to much higher sales numbers.

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