30ashopper
SoWal Insider
Two interesting graphs - this using the same ecar data from the previous post -
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Inventory and Sales - homes, condos, lots
- Thread starter 30ashopper
- Start date
30ashopper
SoWal Insider
Sales recovery for homes -
30ashopper
SoWal Insider
Condo sales still dead in the water -
30ashopper
SoWal Insider
Lots mixed -
30ashopper
SoWal Insider
median sale prices -
AAbsolute
Banned
Two interesting graphs - this using the same ecar data from the previous post -
Is the ECAR sales volume from the 2nd graph expressing units sold or something referring to value?
30ashopper
SoWal Insider
units sold.
AAbsolute
Banned
Am I reading the charts correctly? I think I am reading that there are 2,000 lots for sale, but only 15 or 20 sales of lots last month. Is that correct? Thanks
30ashopper
SoWal Insider
Yes that jibes with the data Josh pulled out of ecar. 12 sales (which might get revised up a bit) and 2002 list for areas 14, 15, 16, 17, and 18.
This imbalance between raw land inventory and sales volume will be the key driver of continuing downward presssure on prices of lots, condos and homes. As the cost of the underlying land falls, so will the cost of the finished products--even if the replacement cost of the constructed as remains stable.