The number of homes listed on MLS for under $300000 declined again this week. Perform a quick search on MLS for SFH under $300k and you'll find only 10. Number of homes in the $300k - $400k range has been steady since January. There has be an gradual increase of homes available for between $400k - $500k since the low point in early January. Inventory of homes between $500k and $700k has been quite flat this year. For the first time since January 6, there are fewer homes listed this week than last with a price tag higher than $700k. However, the number of million dollar plus homes increased this past week.
Two bedroom condo listings jumped by 57 this week. I haven't investigated the reason behind this. I'd assume it was the release of a condo development to general MLS listings. Three bed SFH and townhome listings were flat.
I'm definitely noticing more front lawn realtor signs in my neighbourhood. Most of them are condo listings. I think that if you are serious about selling your home these days, you have to set your place apart from the rest. Either you need a smokin' price, or there has to be excellent value for the buyers' money. Unless you start with a steal of a deal, the days of flipping are over.