The number of active homes for sale is down 27% from a year ago. The number of active condos for sale is down 23% from a year ago. The number of active lots is down 23% from a year ago. This trend of decreasing inventory has been consistent and is a positive market indicator.
The number of homes under contract is up 50% from year ago at this time. The number of condos pending is exactly the same as a year ago at this time. The lots sales activity is still the most sluggish with half as many pending lots as homes or condo. However, the number of pending lots is up 150% from a year ago so the tide is turning and the activity in lot sales is increasing.
The number of closed homes in August was up 57% over a year ago August. The number of closed condos was up 30% over a year ago. And again, the lots activity improvement was the most significant but still has a way to go to catch up with the number of closings up 166% over a year ago.
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