The Numbers Tell Us Real Estate Sales Are Stronger

September 3, 2008
Yesterday I posted the number of Active and Pending Sales reported through the IMRMLS for the first day of September 2008. This morning I went back and reviewed the number of actives and pendings reported through the IMRMLS on January 2, 2008. When I decided to keep track of this data I wanted to see if it would give any indications of trends in the real estate market in the 14 communities that I chose to track. Just look at this one set of statistics - the percentage of sales pending to the number of active listings!
Banning/Beaumont............January/7.5%...........September/28%
Bloomington........................January/4%..............September/24%
Colton...................................January/7%..............September/24%
Fontana...............................January/7%...............September/36%
Grand Terrace...................January/8%...............September/24%
Highland.............................January/7%................Septemebr/32%
Loma Linda........................January/4%................September/23%
Mentone.............................January/8%................Septemebr/26%
Moreno Valley...................January/10%..............September/47%
Redlands............................January/9.6%.............September/19%
Rialto..................................January/9%................September/33%
Riverside...........................January/7.5%..............September/31%
San Bernardino................January/7%..................September/22%
Yucaipa/Calimesa............January/7%..................September/18%

Ask any real estate professional. You will be told that sales activity has picked up. Yes, prices are declining, but savvy buyers are definitely making offers. When I report the closed sales next week, it will be worth watching the numbers and then checking the median price of these transactions.