As many people prepare to celebrate the holidays, the market tends to see a slow down. This season is no exception.  It is unique in that the market is still seeing multiple offers in places and that the inventory accumulation seems to be rising. Let’s look at the details.

DEMAND:  Demand in November was slightly above the demand we saw last year, but nothing too significant.  One observation to note, is how much higher demand was than last year in June and how the market has not sustained that increase.  In and of itself, it doesn’t mean the sky is falling. It is something to continue to observe and see how demand is doing, so we can know if the market is shifting.

SUPPLY AND INVENTORY ACCUMULATION: Like demand, supply is mirroring the same time last year. However, when you look at the bigger picture you can certainly see that inventory accumulation should be falling off this time of year. It isn’t . We have the same amount of inventory as we did last month. That’s another sign that momentum in the market is slowing.

SOLD TO LIST RATIO: The predicable dip in a lower ratio was held off until this month. What this could mean is that the demand was higher last month, however we won’t see that until January.

RATES: Rates continue to hold steady in the low 4’s.

CONCLUSION: It seems “business as usual” right now, with the only exception being a slight creep in the amount of inventory accumulation. This is a factor to keep watch on.  If inventory keeps creeping up, that’s a definite sign of a slow down.  We are still experiencing multiple offer situations in the Downingtown, West Chester and Great Valley area’s. This can be frustrating for Buyers, but they just need to set their expectations for this and make sure they plan a winning strategy with their Buyers Specialist.   Of course the market continues to be great for Sellers in those areas.   Outside of those areas the markets are more “normal” in that it is taking 45-90 days for homes to sell and usually do not have multiple offers.

Lastly, we here at the C & C team want to take this opportunity to wish all of our friends, clients, past clients and “fans” a VERY BLESSED holiday season and hope that it is one filled with hope, life and much time with those you love.