Less than 10,000 SF homes on the market

Just checking the ARMLS listings for this morning and noticed that there are now 9,931 active Single Family homes now listed in the system. This time last year there were closer to 50,000. There are also 217 active Multi Family (MF) properties listed; Sep 2010 had just under 600 listed.

Below are three charts of MF properties over the last few years. Since Jan 2009 with 600 properties on the market, to May 2012, with less than 200. The second chart is indicating the lowest prices for property Asking Price versus the Sold Price was in the summer of 2010. The Asking prices have skyrocketed in the couple of quarters; last summer it was not hard to find 3 and 4 unit properties in the under $100k range. Today, there are about 20 listed, and many are not those that you would consider a 'turn key' purchase.