It's Been Awhile.....

It has been a very active market, certainly the bias has been towards sellers as the market is in a never say die mode. There is lots of speculation as to when 'the next leg down' will be; so far it is all just talk.  We are having our busiest Spring on record, currently with 11 outstanding/accepted offers, 18 deals in contract.

We have also listed our first property at 101 Warren street and now have the entire model worked out along with all the logistics of effectively listing a home. As discussed previously here we are 100% confident we can compete with any brokerage firm in the business. People were skeptical when I started the buy-side model and it has been a huge success, I expect nothing less from our listing service model. It ain't rocket science kids...Call me and I will run you through what we offer.

Best,

Keith Burkhardt
917.770.4951

Data from www.urbandigs.com

Supply
5,407
LISTINGS ON MARKET AS OF YESTERDAY
 8.1% from prior month
 7% from one year ago
Pending Sales
3,473
LISTINGS IN CONTRACT AS OF YESTERDAY
 8.7% from prior month
 5.6% from one year ago
Days on Market
71
MEDIAN DAYS ON MARKET AS OF YESTERDAY
 7.8% from prior month
 22.4% from one year ago
Price / Square Foot
1,367
MEDIAN PRICE PER SFT AS OF FEBRUARY
 0.1% from prior month
 1.4% from one year ago
Monthly Contract Activity
968
CONTRACTS SIGNED IN APRIL
 13.6% from prior month
 12.9% from one year ago
Monthly New Supply
1,640
NEW LISTINGS IN APRIL
 3.2% from prior month
 3.8% from one year ago
Median Sale Price
1,117,978
FEBRUARY MEDIAN SALE PRICE
 0.3% from prior month
 3.6% from one year ago
Monthly Sales Volume
877
FEBRUARY SALES VOLUME
 12.4% from prior month
 11.5% from one year ago
Volatility Index
1.57
ACTIVE-TO-PENDING RATIO AS OF YESTERDAY
 0.6% from prior month
 1.9% from one year ago
Off-Market Inventory
3,370
OFF-MARKET LISTINGS AS OF YESTERDAY
 1.3% from prior month
 31.9% from one year ago
Monthly Median Listing Discount
3.40 %
FEBRUARY MEDIAN DISCOUNT
 0% from prior month
 61.9% from one year ago
Monthly Absorption Rate
4.50
ABSORPTION RATE AS OF FEBRUARY
 15.4% from prior month
 25% from one year ago
Discount to DOM
0.00 %
MEDIAN DISCOUNT UNDER 30 DAYS IN Q1
 0% from prior quarter
 100% from one year ago
Sales Over Asking Price
18.91 %
SOLD ABOVE ASK IN Q1
 10.7% from prior quarter
 27.7% from one year ago