Menu 

Danville Average Time on Market Improves Greatly in May, 2012

Real Estate Report by m.s.Woods Real Estate, LLC. –  While the Danville real estate market wasn’t perfect in May, 2012, there was a lot to like in terms of market performance. The average number of homes sold rose 25 percent, from 12 in April to 15 in May. What prevents this from being entirely good news is the fact that, compared to last May’s total of 16 closings, it represents a 6.2-percent decrease in total closings. That said, the average number of closings to take place each month, from March through May of this year, rose an astounding 41.7 percent in comparison to this same 3-month period 1 year ago.

In the area of pending sales there was a lot to like. May’s total of 19 pending sales represents an increase of 26.7 percent. What’s more, this is an increase of 18.8 percent compared to last May. As well, the average number of pending sales per month, from March through May of this year, was up 221.4 percent relative to this same quarter in 2011.

Meanwhile, the total number of Danville homes on the market grew by 10.4 percent in May versus the previous month’s total of 135. Obviously, nobody wants to see an increase in the number of homes on the market, but compared to last year (May, 2011) this represents a 5.7-percent decrease in total listings. There was no change in the average number of homes listed for sale from March through May of this year in comparison to this same period 1 year ago. In both cases, the average stands at 139.

View the complete, original article here.