I was just reviewing our statistics since August of 2007 regarding the number of homes put into contract...either into a pending or contingent status (pending sale or sale contingent upon a specific factor...financing, inspections, sale of another property) and I came across a very encouraging statistic. We just put more homes into contract in the month of February than the last 6 months combined...yes, very good news indeed!!!



Homes put into contract during the month of;

Aug 2007 -  36

Sept 2007 - 25

Oct 2007 -   59

Nov 2007 -  67

Dec 2007 -  157

Jan 2008 -  842

Feb 2008 -  2402



Of course, not all of these homes will close, some will fall out of escrow or have long and difficult escrows, but the trend in our market is very clear, the buyers are back!!!

Now we still have a long way to go to put a dent in the 23,800 homes currently listed in the MLS, but knocking 1352 off the market as sold in February and the additional 2402 that are no longer available because they are in escrow is certainly a step in the right direction.

Hopefully this trend continues and our property values will finally have some firm ground to settle in on again.