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This weekend almost nothing happened.  One lousy new listing that is priced so high I’m almost embarrassed to report.  But it’s not my listing so…

1328 Highland is 1627 sf of living space on a 7087 sf lot.  The agent does not mentioned any remodeling other than “custom maid windows”.  At $570 per square foot I would think you get something more than mis-spelled windows.  One more thing.  This is on the part of Highland that narrows and the young men like to play chicken with on coming traffic in their sooped up and blackened Mercedes and Beemers.  Delightful.

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Napolean

Napolean Dynamite showed us it is cool to be a geek.  Let us visit the geeky side of Kendyl!

Today I am going to bring you up to speed on the stats in our area.  Right now we have 66 homes on the market that are built before 1960.  Last quarter I reported that there were 69 homes on the market.

However, there is an appreciable slow down in the rate that homes are selling.  This means that although there are fewer homes available, there is a larger relative inventory.

Let me ’splain.  I take the total number of homes that sold in the last 12 months, divide by 12 and this tells me how many homes are selling, on average, each month.  Each time I do this I am using a different 12 months and this tells me how the rate of sales in changing.  It should be no surprise that this rate is getting slower and slower.

SO - right now we are selling homes at the rate of 10.8 homes a month.  If nothing new comes on the market we will sell all our inventory in 6.1 months.  As a contrast, the last time I did stats, in March, we had more homes on the market and only 5.4 months of inventory.  Just to be the harbinger of doom, I might also mentioned that the rate of sales over the last 6 months has fallen to 8.6 homes selling per month.

Is there any good news?  Yes.  22% of the homes sold in the las 6 months sold in 30 days or less and these homes sold, on average, for 102% of the list price.  This means that pricing your home really well will get you a quick sale and possibly over your list price.  The stats do not mean that homes are not selling.  The stats mean that the buyers are very picky and will only buy the best value on the market - but they WILL buy!