Thursday, June 04 2009
May was a great month for real estate closings. Last month was the first time that our market had a higher dollar volume of real estate closings than the corresponding month in the previous year since late 2007. This had to happen sooner or later since May was our fourth consecutive month of increased sales. As sales continue to increase, there is a constant need to attract new listings. The number of active listings in our market has remained remarkably constant throughout this calendar year. We have not had listings at this relatively low level since 2006. As sales increase and listings stay constant the month’s supply of available homes continues to decline. In January we had over 15 month’s supply of homes on the market. That number has declined to 8.3 month’s supply as of May. If you are considering putting your house on the market keep in mind that we had 75% more buyers in May than we did in January. Homes are more likely to sell now than they were then.
Speaking of buying homes we enhanced our web site again this month. You can now get a “street view” of virtually every listing on our web site. This allows you to see your new home as well as look up and down the street. You can see the neighborhood anywhere in our area without leaving your seat. This technology is significantly better than any other local real estate web site. You can also sign up for new listing or open house alerts on our web site. Just go to FCTuckerEmge.com and register so you get notifications automatically.
Enjoy your Summer and I’ll update you again next month on our Real Estate market.