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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (44645)11/2/2005 9:44:33 AM
From: Ramsey Su  Read Replies (1) of 110194
 
I am going to cut off the SD numbers now and consider it official for the month of Oct.

Total closings were 2562, compared to 3486 for sequential Sept 05 of 3486 (down 26% or 893 sales), compared to 3356 for yty Oct 04 of 3356 (down 23.6% or 794 sales).

Avg asking price was $662,884 while avg selling price was $629,388. That means selling price is 94.9% of asking price, which is the low of Jan 04 thru now, the period that I am tracking. The avg selling price is about $2k higher than Sept but lower than the peak of $641,151 set during Aug 2005.

Days on market was 57. Avg DOM was 33 for 2004 and 51 for Jan-Sept 05.

Oct 05 had 2844 pendings with avg asking price of $647,459. If we use 95% as the expected sales price, these sales would close at $615,086, probably later this month and next month.

Total pendings (including escrows opened before Oct) is now standing at only 5200, a far cry from 6900 back in June when I first started this exercise.

Nov and Dec 04 were relatively strong for that time of the year, with sales at 3133 and 3300 respectively. There is almost no chance that we can match the Nov figure now, nor Dec unless sales activity picks up substantially right now.
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