It’s official - the low end is hot!

The last time I ran the market data regarding the number of months of inventory available, (approx. September, 2007), the $0-1 million price range had 10.9 months of inventory.

Looking at the same range today gives us 4.3 months of inventory - at 3 months, this is entering “Sellers’ Market” territory!!

Data used: 164 active listings; 38 went pending in the past 30 days. This is for Goleta through Carpinteria houses only, no PUDs or condos.

Buy ahead of the market. You will be glad you did. This is a market full of opportunity. The “bell” is going off in this market segment!

For sellers, the news is also good, this means more buyers are buying, fewer days on market, even the potential for multiple offers.