Yesterday I mentioned in my Realtime Real Estate Blog that days on market was down in Sunset Park, which is a good thing for the housing market there. In addition, inventory has fallen about 20% since November which will amplify the effect that faster transactions have.
As of this week average days-on-market for houses in Sunset Park has fallen from almost 8 months to less than 6 months since the middle of November. at the same time, median asking price is moving above $760k. Taken together, these are good indicators of increased sales activity.