October 28, 2020
By Saeed Ghaffari
The red dots are all over the place! A sign of warning! Maybe, we don’t know.
For goodness sake, it’s almost winter, we are in a pandemic and the presidential election is a week away. What do you expect?
If you notice, we have added a couple of new columns to keep track of total the active inventory weekly and its delta weekly. In a perfect world, the current active listings should amount to the last week’s plus new listings added in the last 7 days less the closings in the last 7 days. Sorry to burst your bubble, we don’t live in a perfect world. There are canceled and expired listings that make up for the difference and we don’t show it in our report.
Another item to keep in mind is the active listings in Los Angeles County. They exceed 5000 every week, the maximum number MLS displays on its website. For that reason, we report the maximum number displayed.
Getting that out of the way, we notice a drop in Active Listings in every county, insignificantly. But the New Listings in the market had double digit drops in 4 out of the 6 counties in So Cal with Ventura showing a gain of 8.09%. This’s something to keep an eye on week after week to gauge the market trend.
Closings had mix numbers with gains in Los Angeles and San Bernardino counties, 10.25% and .98% respectively and Orange, Riverside, San Diego and Venura counties all showing drops, with Ventura on the top with 18.39% drop in closings.
The Average Days numbers fluctuated between went down by 10.34% in San Bernardino and went up by 9.52% in San Diego counties and other counties were in between. The changes are insignificant in this category and I am not sure why we even keep tracking them.
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