Saturday, February 12, 2005
Market update 2-12-05
The last five weeks of activity at Caravan has shown a tightening market. During the summer and fall we were seeing 60 to 80 home show up for preview on caravan. The last five weeks has averaged 20-25 homes. Total inventory has dropped from a summer high of 850 to 333 as of this post. The vacancy ratio is still on the high side with 65 of the 333 listing availble (are vacant).
Several homes in my office went out this week after being on the market less than 7 days with multiple offers.
Several homes in my office went out this week after being on the market less than 7 days with multiple offers.
