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Danville Home Sales Rise 35 Percent in October, 2012

Real Estate Report by m.s.Woods Real Estate, LLC. –  The Danville real estate market, while improved in some key areas, was a victim of seasonal changes that typically affect the entire Central Indiana area around this time of year. For example, a total of 7 more closings took place in October, 2012 compared to the previous month’s total of 20. This translates into a marked, 35-percent improvement overall. More importantly, this same time 1 year ago, there were 17.4 percent fewer closings. Clearly, things have improved in this regard. What’s more, from September through October of this year, there were an average of 21 closings each month, or 16.7 percent more versus this same 3-month period 1 year ago.

On the down side, there were just 20 pending sales in the sales pipeline, 4.8-percent fewer, versus the previous month’s total of 21. Versus October of 2011’s total of 22 this is a decrease of 9.1 percent. However, from September through October of this year, there were 22 pending sales in the pipeline each month, or 10 percent more, compared to this same period 1 year ago.

While the 124 homes listed for sale in October represent an 8.1-percent drop in total listings versus the previous month’s total of 135, compared to October of 2011 it is a 3.3-percent increase overall. And from September through October of this year there were, on average, 5.5 percent more homes on the market relative to this same quarter last year. Of the 124 homes listed for sale in October, 20 were new listings altogether. This is down by just 1 listing versus the previous month, and down an even greater 28.6 percent versus October of 2011. The 12-month average number of new listings placed on the market each month is 28.

View the complete, original report here.