Quarter 1 is over. What did we learn?

After a few too many drinks on Saturday afternoon, I got curious about how our 2010's Q1 compares with 2009's Q1. And here's what I found:

I looked only at 4 neighborhoods. And this is condos only (not enough SFHs or 2/4 flats to get good numbers). Here's the bulletpoints:

• closings are up 64%
• prices are down 1.4%
• market time is down 14%

Is this the bottom? Well, we don't know yet. The pesky tax credit expiring will continue to skew the numbers through the end of June. Looking at the number of contracts written in May/June versus 2009 should be an interesting exercise. We'll have a good idea about what will happen next when we see those numbers.

 

Comments

[property in Vietnam]

472 closing for the first quarter this year? Wow, that's a big leap! I hope this will go on.

[supra muska]

If you wish to be the best man, you must suffer the bitterest of the bitter.