The Sprint to the Finish Line

With November now in full swing, we are seeing the final 6 weeks of the 2007 market. Last year we saw amazingly strong under agreement rates in late November and December. The "sales" numbers might slow a little because people do not plan to move in the middle of the various holidays.

This brings us to an important distinction in evaluating numbers that come out. We all talk so much about "sales" and what we're looking at are numbers derived from transactions started 1-3 months ago. By the time the data is processed we have a lag in what is happening in the market and what the numbers show us. It is impossible to work off of under agreement statistics because listing agents cannot disclose the price at which a property is put under contract until the transaction ends (closing or the deal falls apart). One thing we have noticed over the past few weeks is transaction "volume" is down. There are fewer properties coming on the market (3-5 each weekend) and property is going under agreement at 5-10 units a week. The numbers point to a good trend, in that we are selling more than we introduce to the market, but we're not at the heavy volume numbers we're used to in the super-strong markets.

Look for some new numbers and graphics showing November's numbers soon. Also, the Brookline Board of Selectmen vote tonight on the appointment of Associate Members to the Zoning Board of Appeals. I am one of about 15 candidates for three vacancies. I like the 1 in 5 odds, but we'll see. Traditionally the Board has appointed architects and attorneys, but I remain excited about the opportunity and will apply again next year if I'm not appointed today.