Central Coast MLS Statistics -Residential -February 2008
(Last months data is also included - February (January))
New Listings - 701 (671)
Back on Market - 313 (393)
Price Changes - 893 (1007)
Contingent - 102 (70)
Pendings - 445 (364)
Solds - 207 (214)
Expireds - 919 (800)
Inactives/Withdrawns - 254 (299)

There's been a lot of talk around the water coolers at Realtor offices lately that activity is picking up and the February numbers are proof of it. Pending Sales, the indictor on how many closed Sales there will be next month, broke the 400 level. As I've blogged previously, we haven't broken 400 Pendings since July of last year. Also, Contingent Sales has taken a big jump in the last 2 months. I believe this is due to Short Sales which can't be reported as Pending until the Lender agrees to the contract. I'm going to do some further analysis this month and break down the foreclosures/short sales numbers as well to see how much of the increased activity is due to Foreclosures (especially in Santa Maria).

New Listings were pretty high but the number of Expireds also jumped. I'll be doing the inventory reports later to see where we sit with Months of Inventory (MoI). Price changes continue to happen but didn't break 1000 for the month.

Solds were still around 200. The Tribune and other media will be reporting these numbers in a few weeks and will talk about how things are still down. But as I've mentioned before, if you're reading this Blog and visiting the www.SloWatch.com site, you're getting a look at what's happening with the market 4-6 weeks sooner than what you'll read in the paper.

I'll be updating the SloWatch.com site later on today/tonite.