Number of Homes for Sale Finally Falling?

I’ve written before about how the number of homes for sale on Mercer Island has been going up, up, up.

At the risk of speaking too soon, inventory may be peaking. Not surprising since we’re going into the winter, the soft season for real estate.

Mercer Island – Number of Homes for Sale

Inventory is loosely related to prices, so there may be some movement there as well. Mercer Island has generally held strong, though with plenty of price reductions around.

But then again, prices are loosely related to everything, including the presidential campaign and the availability of parking at the Park and Ride, so who the heck knows.

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3 responses to “Number of Homes for Sale Finally Falling?

  1. Just wondering if houses coming off the market may impact this…i have a friend or 2 who took their houses off for the time being…

  2. mercerislandblogger

    Yeah, I think there’s some of that… I’ve heard it called shadow inventory. Basically, those homes are for sale, but not currently on the market. If the market does start to normalize we may see a bunch of sellers come on the market.

  3. Pingback: Mercer Island Real Estate Update, Recession 2009 Edition « Surrounded By Water: A Mercer Island Blog

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