Updated 7.19.08 (Saturday) 
Is it time to come out from under the umbrella?
My umbrella Stays for awhile!
A few months ago I decided to begin tracking the dates offers were accepted, rather than just tracking by sold dates. There is a longer explanation at the bottom of these charts, but if you think about it, tracking by pending offer dates gives us more real time information about what the Rockland Real Estate market. Why? Well it can take months for a property to close. Sometimes more than 3-6 months.
It appears we had a season "uptick" in April, but things are cooling down again. Most of us feel that the sluggish market will be with us well into 2009. Rockland is fairly well insulated, however, as we are a bedroom community of NY City. One can readily see that properties are selling. Savvy buyers will purchase NOW while the rates are still low.
One can also readily see that residential homes are selling almost 3-1.
Keep your eye on the column with the column heading PD. PD means pending offers. At the end of every month look to the right and you can see at a glance how many offers were accepted for that particular month. This is a true barometer of our local rockland real estate market.
SUMMARY SECTION OF CONDO OFFERS ACCEPTED FROM PD COLUMN
CONDO
OFFERS
33 - January
32 - February
39 - March
47 - April
44 - May
36 - June
08 - July
239
|
RESIDENTIAL
OFFERS
99 - January
87 - February
103 - March
125 - April
116 - May
114 - June
24 - July
668
|
INTERESTING OBSERVATION:
From: 1/1/08 through 7/1/19
- 668 Residential total offers
- 239 Condo total offers (see above)
Residential Sales
outnumber Condo
Sales by about 3-1.
People still like
to buy land !
|
CONDO MARKET: Accepted offers TRACKED BY MONTH since 1/1/08
Read more »
http://www.morninggloryrealty.com/003AE3
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