Listings and Pendings on October 1, 2009

October 1, 2009

As we begin the fourth quarter of 2009, the listing and pending data as it has been reported through the IMRMLS shows that sales have increased dramatically over 2008. If you go to the blog post of October 3, 2008, you can compare the numbers. At that time, listings outnumbered the properties reported as pending sales by 60 to 75 percent. Today, the pendings in six of the fourteen communities that I have been tracking exceed the number of active listings.

Here are the numbers.

Banning/Beaumont..........Listings/467...........Pendings/250...........Ratio/.535

Bloomington......................Listings/56.............Pendings/74..............Ratio/1.321

Colton.................................Listings/132...........Pendings/95..............Ratio/.720

Fontana..............................Listings/417...........Pendings/657............Ratio/1.575

Grand Terrace..................Listings/15..............Pendings/21..............Ratio/1.4

Highland.............................Listings/163...........Pendings/103............Ratio/.632

Loma Linda........................Listings/51.............Pendings/33..............Ratio/.647

Mentone.............................Listings/16.............Pendings/23..............Ratio/1.438

Moreno Valley...................Listings/492...........Pendings/741............Ratio/1.506

Redlands.............................Listings/205..........Pendings/112............Ratio/.546

Rialto...................................Listings/233..........Pendings/306............Ratio/1.313

Riverside.............................Listings/977..........Pendings/930............Ratio/.952

San Bernardino..................Listings/708..........Pendings/564............Ratio/.797

Yucaipa/Calimesa.............Listings/204..........Pendings/108............Ratio/.529



There is another category for reporting. It is the "back-up" category. These are properties that have an offer that has been accepted but, for one reason or another, the seller will still show the property and consider accepting an offer as "a back-up" in case the previously accepted offer cannot go forward. If I had included these transactions in the "pending" sale category, it would have increased the ratios. These numbers are reflective of a substantial increase in real estate activity which is a good sign that the real estate market in our region is stabilizing.