A real estate glut?

Forsale The number of houses listed for sale on the islands’ Multiple Listing Service increased at a pace of more than one a day in the last week.  As of Wednesday evening, it stood at 61.  Real estate sales people concede that while inventory is now 70 percent greater than it was a year ago, this is not a sign of impending weakness in the market.

"Our customers come from markets where they looked at dozens of choices before deciding on their last house purchase," said Mike McLaughlin, broker associate at Town and Country Real Estate. "The math is simple; more inventory = confident buyers = happy sellers."

The market is certainly still active.  I’m aware of a $1 million-plus, frame property, which has just been sold, after less than three weeks on the market.

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