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Six Days, 798 'For Sale' Signs

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Posted: Thursday, January 8, 2009 12:00 am | Updated: 7:09 am, Thu Dec 3, 2009.

Local real estate broker Jim Klinge pulled the stats for homes listed for sale in the region's home sales database in the first six days of the year. The total: 798.

That's down 40 percent from 1,320 last year. The first six days of 2007 had 1,616 listings, and there were 1,729 in 2006.

Klinge said the 798 number might still grow as agents and brokers catch up on filing their listings on the database. But, from his post:

… it looks like the new-listing inventory will be well under recent years.

The elective sellers are in for a tough year, because you have to either price your home aggressively, or don’t bother. As a result, 2009 is going to be dominated by bank-related inventory - get used to short sales!

We looked last month at a lowered supply — and a lowered demand — in the residential real estate market. Klinge's post is a preliminary indication of the demand. We should have numbers sometime next week from MDA DataQuick to see how sales fared in December.

KELLY BENNETT
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It takes a lot to make it here. Some of our most important decisions -- where to live, whether to buy or rent, what to do for work, how to imagine the future -- are tied inextricably to the ebb and flow of the local economy, no matter where we fit in the continuum. In Survival in San Diego, reporter Kelly Bennett reports the latest about these issues, tells stories about the people affected by them and gives you a chance to weigh in on some of the hottest topics of the day.

E-mail Bennett at kelly.bennett@voiceofsandiego.org