Posted on February 15, 2011
While there is evidence that we are close to a bottom, sales are seasonally slow. The frequency of price reductions has decreased dramatically. New inventory is minimal. In town, high quality family homes are seeing between 8 and 15 groups (a group is 1+ people) attending public open houses, so we know there are buyers paying close attention to the inventory. We assume that as new inventory hits the market, these buyers will be well positioned to write an offer.
In the meantime, we continue to prepare our new listings for the market; keep our buyers up to speed on every new listing and market our current listings around the world!