In September, I told you about some seriously cool software that I learned that gives my clients and me some great tools to determine pricing, competition, and timing.
Below is the "Months Supply of Inventory" of single family residential homes currently on the market, as of the last day of October 2008. I warn you, it's grim news. We currently have 15.7 months of inventory on the market, up from 11.6 months in September. Over a two year period, the "Month Supply of Inventory" has increased 108%.
You can click on the image to enlarge it, or shoot me an email and I'll be happy to send it over as a .pdf file. I can also run this report for your municipality to give you even more specific numbers for your home.
So, what's a girl (or boy) to do?
What's I've been preaching so much, even I'm sick of hearing it.
Your home has to be either a spectacular value or in spectacular condition. It has to blow the rest of that overwhelming inventory out of the water. In order: get it staged, price it right, market the hell out of it.
Here are some links to additional information on staging, pricing, and marketing: