Listings and Pendingsin the MRMLS June 1, 2010

June 1, 2010
Here are the numbers of listings, pending and back-ups as reported in the IMRMLS> These numbers are only reflect what has been reported as of June 1, 2010. To obtain the ratio of transactions with an accepted contract (pendings) I have also included the numbers for those reported in the back-up category as these also have an accepted contract.
Banning/Beaumont......Actove/520.......Pending/250......Back-up/91......Ratio/.656
Bloomington..................Active/55..........Pending/85.........Back-up/19......Ratio/1.890
Colton............................Active/126.........Pending/109......Back-up/45......Ratio/1.222
Fantana........................Active/597.........Pending/708......Back-up/210....Ratio/1.538
Grand Terrace............Active/28...........Pending/12.........Back-up/5........Ratio/.607
Highland......................Active/161.........Pending/106.......Back-up/44......Ratio/.932
Loma Linda................Active/65...........Pending/37..........Back-up/23......Ratio/.923
Mentone.....................Active/43...........Pending/13..........Back-up/8........Ratio/.618
Moreno Valley...........Active/569.........Pending/710.......Back-up/270....Ratio/1.538
Redlands....................Active/295.........Pending/132........Back-up/52......Ratio/.624
Rialto..........................Active/220.........Pending/334.......Back-up/75.......Ratio/1.859
San Bernardino.........Active/691.........Pending/621........Back-up/131.....Ratio/1.088
Yucaipa/Calimesa....Active/262.........Pending/110........Back-up/66.......Ratio/.669
If you are wondering why agents report an accepted offer in the "back-up" category, there are several explanations. Usually it is because there is some significant contingency in the accepted offer. Often it may be a contingency regarding lender approval for a short payoff. However there can be other contingencies that must be removed before the report will be changed to pending.
As you can see, the market in our region is not "flooded" with listings. The listings that are priced competitively do not remain in the active category for an extended period, but quickly are reported as pending. Buyers have been surprised how quickly new listings are selling.