Monday, September 22, 2008

Market Watch

In the wake of last week's near collapse of the financial markets, everyone is wondering what impact the crisis has had on real estate. An article in Sunday's New York Times reports that buyers in the city are moving ahead with scheduled closings, but that those not yet in contract are taking a "pause" to see what happens. Curious to see if the same was true in our area, I looked at the number of listings that had gone to contract in each of the last 3 weeks in the towns that this blog predominantly covers. Here's what I found:

Contracts signed

9/1/08 to 9/5/08: 9
9/8/08 to 9/12/08: 15
9/15/08 to 9/19/08: 17

Evidently, the financial crisis hasn't dissuaded would-be buyers in the area from moving forward and signing contracts. We'll see what happens in the weeks to come...

1 comment:

Anonymous said...

I'd sign a contract if I found the right house. I'm desperate to get my down payment out of the banks and into something relatively stable. Prices may decline but a house isn't going to declare bankruptcy and disappear!