MLS Data provided courtesy of Real Estate Legends, USA

Buyer, Seller & Investor Tips

• Buyers: Pay attention to the new graph below, the Activity Index, the ratio of new listings to the total inventory. While the total inventory is going down, moving along the sales process towards the finish line and closing, the Activity Index shows a healthy number of listings coming to the market and replacing them. Also, the Aged Listings, 100+ DOM (days on the market) are dropping, but the Aged Listing index is staying flat, another indication of new listings in the market. Although we have a strong seller market all over So Cal, if the trend continues, a more balanced market may be around the corner.  Why should someone buy today, for one, interest rates are down and may not be as low as they are later, as we have noticed upward ticks on the rate last week. If you are buying, you must be ready to compete with multiple offers and have all your ducks in a row, proof of fund, loan approval, and work with an agent who know the market and how to ingratiate the listing agent and the other side.
• Sellers: It’s never time to sell unless you have to. That out of the way, the market is in your favor, rates are down and people’s affordability is high. Coming Soon listings went down by .44%, as opposed to last week’s increase of 8% in the region, a net difference of 8.44% in your favor. This means if your property is priced right, you can hold firm on your asking price, although we had 13% increase in new listing this past week. With as many new listings in the market, the active inventory still went down, meaning there is plenty of demand our there. Work with a good realtor who knows how to price your property and has good negotiating skills, and you will do just fine. In choosing a realtor, as much as you look into the realtors’ experience and work history, be sure to reward people with solid character and high ethical standards.
• Investors:
  • Long Term: Go for it. Take advantage of the lower rates.
  • Short to Mid Term: There are good deals out there and most likely more to come. Do your homework and roll the dice. You won’t get anywhere unless you are willing to take chances and get out of your comfort zone.
• Everyone: Money is important, but it’s not everything. While you protect your financial interest, be sure to build good will with people you do business with.
• Buyers, Sellers & Investors: Seek the advice of an experienced local realtor for data specific to your market.

So Cal MLS Weekly Activity Report

• Active Listings continued their trend from the week before with .89% drop, highest drop was reported in Riverside county with 4.86% and the lowest was a gain of 1.76% in San Bernardino.
• The new listings, listings with 7 days or less on the market went up in the region by 13.49%, compared to the previous week drop of .93%, it’s a net gain of 14.42%. That is really good news for the market, especially buyers. More exciting is the fact that every county showed a double digit or near double digit gain. Ventura county had the highest gain of 25.62% and OC had the lowest of 9.14%. The ratio of the new listings to the total active listings remained solid, 29.51%, a gain of 3.51% from last week. This figure is an indication that properties are moving along the sales process, meaning activity is up. I have been tracking this figure for the past few weeks and have add a graph to show its movement and will be calling it the Activity Index.
• Older listings, listings with 100+ days on the market went down in every single county as well. Good news. The average drop for the region was 5.59%, with Ventura County leading the pack with 11.43% drop in listings with 100+ days on the market and San Bernardino at the bottom with 3.66% drop. Nonetheless, that is also an indication of active market. We have tracked the movement of older listing and I have produced a graph calling it the Aged Listing index, the ratio of Listings with 100+ DOM over the Active Inventory.
• Coming Soon listings went down last week by .44% in the region, a mixed activity in So Cal., with LA, San Diego and Ventura showing a gain and OC, Riverside and San Bernardino showing a loss. This category alludes to properties expected to hit the market in 10 days or less.
• Finally, the closings were down in all counties, averaging a drop of 14.77%. Ventura with a drop of 22.05% was on the top and San Diego with a drop of 2.95% was on the bottom of the table.

Table below shows the impact of the market trends and factors on our economy, ECON 101.

Active Inventory listings dropped by .86%, much better than the drop a week ago 2.72%.  Advantage: Sellers

New Listings went up by 11.9%, a considerable change from the week before with the drop of .93%. Advantage: Buyers

When the New Listings and Activity Index graphs are moving in the same direction with the same slope, it’s an indication of a really good market

Listings with 100+ days on the market dropped by 5.59%, more than double the drop of the week before 2.4%. Advantage: Sellers

As noted above, the 100+ DOM listings are going down, but the Aged Listing index is staying flat, that means new listings are hitting the market. Good news.

Coming Soon properties almost stayed the same, drop 0f .44% is insignificant, but compared to the increase of last week, 8.25%, it’s a number to keep an eye on. Advantage: Sellers

Closed Listings went down by 14.77% in contrast to last week’s increase of 22.51%, no so good for anyone!

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