32, 40, 41, 57, 69, 104
Nope, these are not this week’s lotto numbers, but the number of sales reported in the Westside for the past 6 consecutive weeks.  Notice a trend?  Although prices are not climbing, and likely won’t any time soon, we seem to be moving toward some market stablization compared with the past few months, when buyers literally went on strike.  Many Realtors® are reporting very busy showings and open houses (compared with recent past), which will eventually lead to sales, as long as the Media doesn’t throw around any more "predictions" which have about as much meat as 1-800-Psychic (I just had to get that off my chest).

The housing inventory is static with last week, as there were fewer new listings this week, and some inventory was absorbed with an increase in sales.  We are constantly hearing from Buyers that they are waiting for the bottom.  They are listening to the Media, that report sales figures a month in arrears.  Folks, this information is current and up to date.  Sales are improving, inventory appears to be static right now, and interest rates haven’t been this low since 9/11.  These are conditions that Buyers should really pay attention to in order to make a wise investment.  Make no mistake, that prices could bounce around for a while as the economy goes, however, locking in at a low interest rate today makes sense, as interest rates will eventually go up, and prices over the long term will recover, as history has shown us.

I have 2 more "over list" sales to report this morning.  A 1 Bedroom condo in Electric Avenue just sold $10,200 over list, within 7 days of being listed.  Another 1 Bedroom condo in Miro just sold $22,000 over list price within 2 weeks of being listed.  Smart Sellers are pricing ahead of the market (ie. lower than the last comparable sale), and buyers are showing them that there is more value than their "perceived" bottom.