February 20th, 2010 Categories: Market Updates
This month’s check on inventory looks a lot like January’s inventory. The number of homes on the market is 41% lower than February 2009, and distress inventory (foreclosures and shortsales) represent 18% of the homes on the market.
In the coming weeks, I’ll report on the number of contracts for 2010. By now I really expected to see an early spring market with many more homes entering the market, but the back-to-back blizzards effectively shut-down all real estate activity for early Feb. We’re speaking to a surge of buyers and sellers who are are ready to go, so I really expect March to be a busy month for real estate.
Contact us if you have specific questions about the market or are thinking about buying or selling in Montgomery County.