The IOP Market... today.
Off to a great start! If the 4th Quarter was 'tepid' then the first month of 2019 has come out the gates pretty strong. While the Sold Listings may be off in January, Pending Sales are up 22% over this time last month.
Is this a sign of the market losing steam or just your typical seasonal trends? The spring market will be the harbinger and I'll be paying close attention to the Months Supply Inventory curve which has leveled off and even trending slightly longer now after a steady decline in the 'months supply' since 2009. We've seen some new speculative builds go under contract with eye-popping numbers so the demand seems to be strong on the Island right now.
Get ahead of the game. We're taking new listings right now and getting them ready for an early spring release. If you haven't already done your spring cleaning, ask me to send you our Pre-Listing Checklist to get ready for the Spring market. If you've done that already, let's get your home under listing agreement so we can start working on media and marketing to hit the ground running and beat the historical influx of new listings in March. For Buyers, new inventory is hitting the market and moving quickly. Be ready to pounce on a good deal when you see one.