|
Months Supply
of Inventory (MSI) report illustrates that our inventory
continues to shrink and sales are strong. As of 01/31/10
there were only 1,891 residential units for sale in all
of Fresno and Clovis. Sales ticked up to a four (4)
month high with 685 properties going into contract. This
equals less than a three month supply of inventory.
Low inventory = less competition = Great Time to Sell
!!
Percentage of
properties under contract (UC) also hit a four (4) month
high. There is buyer demand, BUT with low
inventory, buyers need to work with a London Properties
agent to find the right home. This likely means a home
that’s not even listed yet!
Sold Average
vs. Median shows that the Average Sales Price has hit a
14 month high. There’s a lot of speculation out there
about the market, but what we know is that
although some prices have bumped up (good time to sell),
they’re still hovering at a seven year low and
interest rates are (for the time being) at historic lows
(now’s a great time to buy!). It’s time to take
advantage of our local market!!
|
