One month is too short a timespan to know if a change is the beginning of a trend or just a monthly fluctuation.In fact, the numbers for September are very similar to the numbers for August.
Some indicators may be indicative of a trend:the list to sale ratio is down a bit, the number of new listings is down a bit, the number sold is down a tad, the days on the market are up a tad.The lower inventory means the Odds of Selling a home are up a bit.The average value per square foot is almost identical.The number under contract IS down.
The long and short of it:homes are coming on the market and selling quickly.The market’s moving.
With land, a few less sold in September but the number under contract remains steady.The only significantly different number in the month of September is the number of land tracts that came on the market:311, almost double the amount for many previous months.Overall, the number of land tracts on the market is now hovering around 1450, which is 100 down from earlier this year, and almost half as many as some months of the recession.
Like homes, the land market is moving.
