Listings Are Dropping Fast at the Shore
As I posted yesterday, listings at the shore were down week over week. I took a look at the Eastern Monmouth MLS today and noticed that listings keep going down. I doubt that houses are selling faster now than they were a few weeks ago and believe that people had been "testing" the market by listing their house to see how much it might be worth. I think there is a general assumption among housing bears that inventory will swell in the Spring when the traditional selling season returns.
posted by Little_Silvered at 6:41 PM
3 Comments:
Yes sir, we're noticing the same behavior up north. However in our case, we have the data. A larger number of listings are being withdrawn or expiring than usual. It's my own personal believe that sellers are pulling off the market waiting until spring to relist.
grim
Welcome
I watch the whole county and throw in Ocean Cty too. The drop is under way and I am guessing it's seasonal. Let's face it we'll have enough people in our houses over the holidays without bringing in potential buyers.
That said, the numerical drop has been most pronounced in the EMC (really NEMC)which also had the biggest run up since I've been watching since Sept.
WMC and SMC are about where they were when I started (1640 and 740) but NEMC is still up a couple of hundred.
Ocean Cty remains about 100+ of where I started (sorry for the vagueness the actual numbers are at the office).
I'm not expecting much movement over the next 8 weeks, but look for some people to get spring sales started early and watch how inventory goes.
You have a great website here, and I'm going to tell all my friends about it.
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