Due to a busy schedule, I did not collect the data needed to publish a weekly update following Thanksgiving weekend. However, I can tell you that our stream of new listings has just about dried up (as it usually does this time of year). As a result, inventory has tightened up quite a bit. We are down to 23 active single-family homes for sale - a low we didn't reach until Christmas week last year. Chances are it will be at least a couple of months before inventory begins to climb back up significantly.
FOR SELLERS: It seems that inventory has dropped off more rapidly than buyer activity has so far this holiday season. A condo which I listed on Hudson just a couple of weeks ago went into contract after one weekend of open houses, as did a 2BD/1BA home at 307 Madrone we listed the week after Thanksgiving. As you well know, tight inventory can be advantageous to sellers as long as there is still a strong buyer presence in the market. While I do expect the number of homebuyers to thin out leading up to the new year, this could be a good time to get your listing gameplan together so you are ready to list in the early part of 2017, when the buyers return and inventory is still low.
Please Note: this table compares the past week's data with data 2 weeks prior, since I did not post an update following Thanksgiving week.
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