Chart Bonanza! – RESIDENTIALLY SPEAKING – If you like Charleston Real Estate Stats, eat up – Post by Seay Development Real Estate
Attached are the updates to the future prices chart and the active versus contingent chart.
The future prices chart attempts to predict where prices are going only in the short term based on what is under contract.
We know what’s under contract and it’s reasonable to assume that they will close on average for about 95% of list price.
This chart has more green on it this month than it has in a long time.
But prices don’t seem to be running away out of hand.
Prices seem to have stabilized and are making nice consistent, reasonable, sustainable gains.
The active versus contingent chart is also attached.
This chart compares the active listings to the pending/contingent listings.
There haven’t been any major changes in this chart.
The biggest thing I see here is a continuing decline in the short sale market.
The weekly number of contingents chart in also attached.
The is a favorite stat since it is so simple.
It’s simply the number of residential properties that went contingent on the hot sheet each week in MLS areas 11-78 on a Sunday through Saturday basis all the way back through 2004.
It’s an easy way to get a quick glimpse at overall buying activity.
You can easily see that the numbers for the last few weeks are unprecedented.
We have never had this level of sustained buying activity at this time of year.
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Charts for the Analytics out there:
Future Price Predictions
Actives and Contingents