Please note – While the market reports serve a vital function, providing info about the local market conditions… they are kind of dry. So, I’m looking for ways to get the info across in a complete, but more entertaining way. This is first in a series of market reports over the next few months exploring better ways to deliver this content.
| ViewAs always, it is difficult to know exactly what is happening in the market now rather than 30-90 days ago. There are a few reasons for that.
- By the time a property closes, it has been off the market 30 days or more, so even looking at the recently closes transactions we are seeing where the market was a month or more ago.
- Most transactions take a little while to filter into the system after completion… so we aren’t seeing transactions immediately.
- It takes a couple of months to identify trends in the market. One month is not a trend… is it a bounce? Is it a recovery? Is it sustainable?
By the time all of these questions are answered, the bottom has come and come, and the best deals are sold. If the absolute bottom of the market in the area was this month, we probably wouldn’t be able to verify that until the first quarter of 2009…
But, I don’t think there is a lot of down left in the market
