In a week that hosted Christmas Eve on a Saturday and Christmas on a Sunday, it's actually a bit of a surprise to see even one new home listed on the MLS. Still, even with the 1 new home listed - a 3/2 at 1646 Pecan Court listed at $1,350,000 - our number of total active single-family homes dropped to a measly 10 this week. This is the lowest we have seen in recent memory. Our low last year was 16 homes following Christmas week, and while it stayed in the teens for a while into 2016, it slowly crept back up as winter progressed. Hopefully after this coming holiday weekend we'll start to see some sellers return to the market. If and when they do, they could be met with strong buyer activity, as recent stock market growth has likely padded the pockets of some hopeful homebuyers. We'll be keeping a close eye on both inventory and the stock market as we head into the new year. Stay tuned!
NOTE: The Average Days on Market shown here is heavily skewed by a home at 3830 Bret Harte Drive, which took 437 days to sell. Remove that from our closed sales list and our average DOM drops to 28.
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