Mike’s Real Estate Show

1. We have a 5.9 months supply of homes.

2. Median has fallen 31% to $385,000 w/ DOM of 98 days.

3. 49% of the sales are NOT doing anything when they sell! They are NOT moving up, or buying anything as they are comprised of short-sales,REO’s or new homes builders dumping product.

4. REO’s make up only 15% of ALL “Active” listings but comprise 38% of ALL sales!

5. Remember, the median is indicative of “where the action” is in the market. To that end, 71% of ALL Sales are UNDER $500,000!

6. There is a 12.5 months supply of Short-Sales on the market.

7. There is a 2.4 months supply of REO’s. This qualifies as a raging Seller’s Market! Just ask Doug!

8. $1,000,000+ sales represent 6.5% of the market. Over $2Mil–57 months supply, represents only .05% of the market.

9. Note the amount of Continue to Shows of 873–not bad huh? But then look at the Short-Sales as a percentage of CTS–44%. We are bloated with these deals which NEVER close. They keep stacking up month to month.

10. Keep your eye on the “pendings” as they are indicative of market activity. Sales are UP by 50 over last year at this time.