Accepted Offers Up, Active Listings Down - Los Angeles Condos

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Real Estate Agent with Windermere Real Estate - Palm Springs CalBRE# 01339266

The Combined LA/Westside Multiple Listing Service has published a chart that I think is worth noting.

The graph, which compares figures from August 2008 to August 2010, indicates that the number of Accepted Offers has increased while the number of Active Listings has decreased.

This points to an improvement in market conditions (from a Seller's perspective).

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Rainmaker
311,259
Glenn Roberts
Retired - Seattle, WA

We're seeing the same in Seattle, Stewart. The decline in listings here is seasonal. Been that way for twenty years heading for a low on Jan 1st. "Sales up" is nice. I've noticed our pendings climbing.

Oct 30, 2010 09:28 AM #1
Ambassador
1,010,876
Harry F. D'Elia
Precision Real Estate Inc. - Phoenix, AZ
Investor , Mentor, CSSN, Radio Coach, REOs, ABR

Perhaps, the banks are not putting as many properties back out on the market-banks holding back inventory in my marketplace to create the same thing.

Oct 30, 2010 09:37 AM #2
Rainer
241,998
David Ames
Zephyr Real Estate, San Francisco - San Francisco, CA
San Francisco

Great news for your area, Stewart...here's hoping the momentum continues.

Oct 30, 2010 01:05 PM #3
Rainmaker
851,428
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

Very encouraging sign. Now take that progress and put it on a train-no, a plane- eastward. We could use some! 

Oct 30, 2010 11:54 PM #4
Rainmaker
267,900
Franklin & Brentwood, TN Homes Mike Nastri - Rodney Kennedy
Keller Williams Realty - Franklin, TN
It matters to us as much as it matters to you.

Looks like some good trending going on there and from the comments the trend in a few other places too.

Oct 31, 2010 12:03 AM #5
Rainmaker
562,448
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Stewart,

I've noticed listings down in a number of areas as well.  As you stated this should lean in the sellers direction.

Steve

Oct 31, 2010 01:16 AM #6
Rainmaker
447,865
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Very good news for your market Stewart. Looks like a bit of balance is being restored.

Oct 31, 2010 09:34 AM #7
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Rainmaker
476,984

Palm Springs Realtor Stewart Penn

Windermere Real Estate - Associate Broker
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