By my calculations (and using Sussex County Association of Realtors’ MLS database), there were as of yesterday (MAY 27th, 2009) - 231 “Pending” home sales (which I defined for this purpose as single family, condos and townhomes—excluding all other property types) for the month of May in Sussex County vs. 211 for the same period (5/1/2008-5/27/20008) a year ago. To put this in perspective, this is the first month in 2009 that pending home sales may outnumber the prior year’s pending home sales for the same month in Sussex County, Delaware.
Unfortunately, between May 27th and May 31st of 2008 there were an additional 51 “pending” sales added so we might not actually beat last year’s numbers, but we’re going to be very very close. Things are definitely picking up.
Also, let’s assume for the sake of argument that most of those “pendings” are going to turn to “closed” sales in June. Last year there were a total of 227 closed home sales in June. Still with me? We might actually see the total closed sales for June 2009 surpass June 2008.
Don’t break out the champagne just yet. There’s no denying the market is still depressed, but we are definitely seeing a jump in activity at The Lee Ann Wilkinson Group firsthand. Of course, what we are experiencing can only be cited as ”anecdotal evidence” but (ahem) as the realtor with the highest sales record for 11 out of the past 13 years, we might be a decent barometer. To wit:
- Our buyers who’ve been sitting on the sidelines are FINALLY realizing that the great bargains are not sticking around and are snapping them up …our upcoming settlements white board is filling up.
- Our office phones have been ringing more and more steadily with appointment requests for our own sellers’ listings from other agents. (Good thing we have multiple staff members here to answer the phones seven days a week).
- We’ve experienced a dramatic increase in visitors and sales at the Bay Crossing 55 Plus Community where we represent Blenheim Homes. (Visit www.BlenheimHomesLW.com for more info on Bay Crossing).
Could the market have reached a turning point? Only the Shadow knows! Stay tuned. We’ll keep you posted.
Posted by Lee Ann Wilkinson 