In reviewing the inventory as of this morning, I have the following data:
Currently in the…
*Residential/Residential with Acreage sections of the MLS there are 575 listings with 282 of those in Douglas County. Compared with July 30, 2010 when it reached 688 listings and 332 of those were in Douglas County(on 7.15.10 there were 683 active residential listings with 338 of those in Douglas County). Normal reductions for this time of year.

*Lakehomes sections of the MLS there are 287 listings with 171 of those in Douglas County. Compared with July 23, 2010 when it reached 440 listings and 268 of those were in Douglas County.

The peak inventory levels of 2010 eclipsed all future years in our marketplace. Sales are up slightly…I anticipate that inventory will start to show some decline as we go forward. An unbelievable posting of listings. I did the best job that I could of marketing my clients inventory. My company had an impressive year with 66 closed sales so far to date. I feel good about what my intended job was for people and in getting their property sold. I still have a lot of work to do, but my marketing efforts paid off for the bulk of my clients.

In my opinion, most of the list prices were unrealistic for the marketplace, that’s why they didn’t sell. We are still overstocked with inventory, even at this time of year. We should be down another 20% at least this time of year to reflect some kind of healthy marketplace. My advice for sellers is that if you are not satisfied with the price that can be obtained in 180 days or less, don’t list your property. Wait, the market will eventually change, always does. I’m not saying it will go up or down, only that it will change at some point. Make your decision, but don’t list at a price that cannot be obtained. What’s the point? It’s a complete waste of resources, gluttons the marketplace and drives overall prices downward. Other than that, enjoy the Christmas Season. Let’s see what next year brings.

Source: Greater Alexandria Area Multiple Listing Service