Typically, the number of houses on the market drops during December, but this year’s drop was three times last year’s drop.
At the beginning of December last year, according to Metrolist statistics, the number of listings was 10% lower than the number of listings at the beginning of November.
This year, I have calculated the drop at 30%.
The low inventory of homes for sale has been a subject of press coverage for over a year, but the number of active listings now is less than half what it was in July and 45% lower than it was in January 2013.
In the City of Golden, we’re down to just 14 active listings, compared to 25 or 30 earlier this year. The total number of MLS listings is under 10,000 — lower than at any time since 2008, which is as far back as Metrolist displays statistics.
Is December a good time to put your home on the market? It certainly is when there are so few homes to compete with.
Personally, I have carried 10 to 20 listings consistently since starting Golden Real Estate seven years ago. Today, I’m down to just one listing, and I am expecting competing offers for it by the time this column is published on Thursday. This drought of listings is unprecedented for me personally and for the MLS generally.