Late Updates

I've been somewhat remiss in keeping up with the blog - sorry.

As of March 08, 2009 per MetroList MLS data there are 231 ACTIVE listings in Lodi and 1642 in Stockton. For Lodi, 137 or (59%) are REO (Foreclosure) and Short Sale properties and in Stockton, REO and Short Sale properties add up to 1376 or (84%). Most everyone, including anxious Buyers and Realtors have noticed inventories dropping and choices of decent REO and other type properties have gone from a pool to a puddle.
Currently, Lodi has 93 homes PENDING Sale and on average is closing 49 Homes a month with only an inventory of 231 of homes. Simply stated we have about a 4-month inventory of homes. Stockton is chewing through their inventory at an even faster pace with 1236 PENDING Sales and on average 519 Sold homes a month. Based on Stockton’s inventory and average number of Sold homes they have about a 3-month inventory of homes available