Bounce or Bottom? by Steve Shull, Teles Properties

Market Dynamics have changed tremendously since the beginning of the year. We started the year with a 17.8 month supply of inventory. We are now down to a 5.9 month supply of inventory.Technically speaking, 0 – 4 months inventory is a Seller’s Market.  Over 6 months is a Buyer’s Market. And in between is neutral. From an overall perspective we are now bordering on a neutral market which would be a surprise to most Buyers.

Right now inventory is shrinking rapidly as sales are outpacing the new     listings that are entering the market. In fact the number of homes Under Contract in May was the highest it has been in two years. Only time will tell if we have seen the bottom of the market or we are just experiencing a nice bounce in activity before the market turns back down or flattens out. Stay tuned.

These numbers are for Single Family Homes on the Westside. If you click on the charts they will enlarge. Please feel free to post your comments or questions.

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If you or anyone you know is looking to buy or sell a home, contact us directly at 424-202-3200 or 424-203-1800.  Please check out our website for exclusive luxury listings, current home and mortgage information,  and state of the art property searches.

Filed under: Micro Market Updates on June 2nd, 2009