Houlihan Lawrence tracks a variety of metrics on a weekly basis, such as listing volume, number of accepted offers (AOs), pending and closed sales from each office. This information is one of the many tools that help us understand our business companywide and to identify trends that may lurking on a broader scale.  

Accepted offers track immediate on-the-ground buyer/seller sentiment. An accepted offer means that buyer and seller have reached an agreement on price and terms, but is not binding until contracts are fully executed.  AOs can fall apart for a variety of reasons but nonetheless helps us see where the market is headed.

We are currently in the midst of the spring selling season and unlike last year – when the first quarter was practically static – the 2010 spring market is moving forward in a predictable and reliable fashion. Accepted offers have increased steadily since the beginning of the year, as is typical of the spring season, with a healthy uptick in AO’s the past 2 weeks.  An accepted offer on April 1^st will likely close in June, the busiest moving month of the year.

In some towns, well-priced homes have an AO within days, indicating that buyers and sellers have reached a consensus about value.  What a difference a year makes.