Market Update Nov 2012 to Dec 2012

Today we have a total of 33 listings showing Active on the market. This is only the 2nd time in 17 years of selling Real Estate here in AV that I have seen inventory so low. We have 108 Listings in Back up status We have 79 Listings Pending In this time period of 11/4/2012 to 12.4.2012 we closed 79 sales. Leases are showing 62 Available at this time. ****************************************************************************** I haven't done a market update in awhile because it's been kind of sitting at 60 or so listings active per month for the whole year. In the past few weeks it shrunk down to the 30's... which means if you have a house to sell, this is an excellent time to list it. Appraisals have been an issue in some of the transactions because with multiple offers the buyers are willing to pay more than the banks see the value for. It's complicated, but prices do go up when there are more buyers than sellers and we are most definitely feeling this trend for the majority of 2012.