Tuesday, August 7, 2007

In Lakeview, Inventory of Condo's & Townhomes still selling

The graph above shows Market Time for attached properties (condo's and townhomes) in the Lakeview neighborhood. When I began this research I was prepared for far worse news than the information suggests. With 4.6 months supply of inventory on the market, this would indicated that the neighborhood is balanced without either an over-supply of buyers or an over-supply of homes for sale.

It's also welcome news to see that the figure for July is lower than it was for June. Activity in the neighborhood seemed to halt during June causing anxiety among home owners with properties for sale. The drop in these supply figures shows that a good chunk of the inventory still for sale will be absorbed this summer.