Smelling Change in the Air?

I thought I did smell change in the air, but perhaps it was just my wacky neighbor cooking on the outdoor grill...in the snow. Be that as it may, it is notable that, so far this year, in my corner of the world, little, Belmont, MA, 5 properties have gone under agreement since January 1, 2009 (18 days). What is notable in this number is the "DAYS ON MARKET" for these palaces -- they averaged a whopping 314 days on -- that is 10 months of no sale no sale no sale and now BANG, we have a deal.

Similar stats are showing up in surrounding communities (5 in Watertown, 8 in "booze free" Arlington, 10 in Medford).

We may well put this up to lower prices, but that does seem to be the case -- no dumps on these prices. Just folks beginning the long dive into the markets.

It is more likely that folks are seeing the other side of the news. A company announces 10,000 layoffs and we are in a tizzy. Another firm is dropping 10% of its staff and we throw a cow. Never mind -- once the ten percent get the ol' heave ho, that leaves a well placed,relaxed and even celebratory 90% out and about. It is these 90 percenters who are coming forward. The survivors in the modern jungle feasting on the carcasses of the fallen...Maybe that is what I smell.