This week before the Labor Day weekend has proved to be more than a little strange for our local real estate market.  Even in our market we see an average of 6 to 8 pended listings per day during the week, with Monday being the big spike after the weekend.  That was not true this week.  When a normal Monday produces 8 to 10 sales, this Monday saw a grand total of.ONE pended listing!!!  Tuesday proved to be not much better with only 2 pending sales.  Even more intriguing was Wednesday with a fairly normal 8 sales, but, of the six site built homes entered into escrow, ALL were foreclosure homes sales!!
Thursday and Friday ended up being similar to Monday and Tuesday with a total of 7 sales for the 2 day period.  Now, what really makes this odd is, we have been REALLY, REALLY busy!!  Our top producing agents have been showing homes like mad, often going out to show homes 2 or 3 times per day!  Many of our agents have been on the road EVERY day for the past 6 to 8 days showing homes to 2, 3 or even 4 prospective buyers in a single day.
OK, so where are the sales?  Just around the corner.  We have seen a shift in our local market and now all the pent up demand by bargain hunters, first time buyers and investors is starting to show.  The buyers know there are great deals to be had and our market is nearing the bottom and the buyers are coming to pick their special deal from the tree.  For the first time since Hurricane Katrina it looks like our fall and winter sales wiil go up, not down.
For buyers and sellers now is the time to act.  Sellers need to get their home on the market and priced right to attract the buyers.  Buyers need to find those special deals before the market starts back up and the great deals are all snapped up.  This could be the start of our next big market shift and a return to a sellers market.
Dont get left out, call your Realtor today and get in on this special time in real estate.

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