MLS STATS 5/30/2012

Median Price Still Rising

Pending sales overtake Active Listings
Sales in May will lag due to lack of inventory


Pending:                            12,651      ( -174 from last week)
Pending Sfam:                   11,021     (    -63 from last week)

AWC:                                 7,713      ( -50 from last week)
AWC Sfam:                        6,711       ( -22 from last week)

Active:                             12,648       ( -82 from last week)
Active Sfam:                      9,783       ( -110 from last week)

Closed 5/21-5/27:             1,805       ( -36 from last week)
Closed Sfam:                    1,535       ( -4 froml last week)

Median Price in May:         $146,900     (+8900 from April)


Prices continue to rise, but the lack of inventory is suppressing the overall number of sales.  Pending sales were higher than active again- its not so much that pending numbers are really high- they are not at their peak, but inventory has fallen substantially. 

May sales are going to finish around 8000 or so- quite a bit less than last year, but again, no inventory.  The key thing now is the price continues to rise.  It is hard to see inventory continuing to drop, however.  We are reaching a point of elasticity that I never thought we could get to in the first place, and it going substantially lower would be unlikely.  Builders will pick up production and prices would rise high enough where selleers would make their properties available.  I do think we will see good sales continue on during the summer.  I would be surprised if we see sales fall off this summer to far; there seems to be enough pent-up demand to keeep sales moving forward. 

End of the month stats are going to be far more interesting, so I am going to hang it up here.  Ill do a little more detailed info next week.