Off Market is booming.
Yes. Right.Off Market is booming.
hahahaha! even I do not have control over the almighty ticker!Dammit, is that you pulling the strings?!?!
funnyYes. Right.
hmm, very interesting. Im sending to John to dig intoWonder if the composition of the off market units is something to dig into...would be interesting to see a distribution by DOM of the off market stuff as well as # of price cuts/% discount (that clearly didn't help drive demand). Given the large volume, it interesting how bifurcated the market really is. It seems that we're operating in to two distinct markets, one which is highly liquid, inventory constrained and generally priced fairly, and another which is just way off base with seller expectations.
Note that more units left the market due to being pulled/giving up than left due to success (contracts signed).Wonder if the composition of the off market units is something to dig into...would be interesting to see a distribution by DOM of the off market stuff as well as # of price cuts/% discount (that clearly didn't help drive demand). Given the large volume, it interesting how bifurcated the market really is. It seems that we're operating in to two distinct markets, one which is highly liquid, inventory constrained and generally priced fairly, and another which is just way off base with seller expectations.
hoping to pull some data on this for friday reportNote that more units left the market due to being pulled/giving up than left due to success (contracts signed).
See my post from last month here:
Liquidity back to 2015, Resale pricing back to 2019 & heading higher
www.urbandigs.com
Keep thinking about thisWonder if the composition of the off market units is something to dig into...would be interesting to see a distribution by DOM of the off market stuff as well as # of price cuts/% discount (that clearly didn't help drive demand). Given the large volume, it interesting how bifurcated the market really is. It seems that we're operating in to two distinct markets, one which is highly liquid, inventory constrained and generally priced fairly, and another which is just way off base with seller expectations.
Oct & Nov is when the deals get signed...we should start to see action now as offers get accepted and deals go to attys for a few weeks and then rls picks up the CS update from broker after deal signed. BUT, Im hearing anecdotally that bids are not aggressive right now and properties priced well, unless its got smtg special, aint movinIn my old building, there were 5 new sales listings over the past month, out of ~50 units. 4 are priced for a sale, 1 is priced to sit. It seems the sellers are showing up for the busy season, but I’m guessing the buyers already showed up in the spring & summer this year and have left.