Real Estate Report by m.s.Woods Real Estate, LLC. – The Danville real estate market saw an 11.1-percent decrease in the number of homes sold, from 27 in October to 24 in November, 2012. This comes as no surprise, considering November is the time of when most people’s thoughts typically turn to the holidays, and plans to purchase a home are increasingly put on hold until after the start of the New Year. Nevertheless, compared to last November’s total of just 19 closings, this is a 26.3-percent increase in total sales. What’s more, from September through November of this year, there were on average 24 closings per month, or 33.3 percent more compared to this same quarter last year.
Since hitting a 12-month high of 152 in July of 2012, the total number of homes listed for sale fell for the 4th consecutive month in November, most recently bottoming out at 111. This, by the way, marks a new 12-month low for this stat. Compared to the previous month’s total of 124 listings this is a 10.5-percent decrease in inventory—something that benefits the market in slower months to be sure. Compared to last November’s total of 113 listings this is a decrease of 1.8 percent. And from September through November of this year there were on average 123 homes for sale each month, which represents a 2.5-percent decrease relative to this same quarter last year.
Total pending sales was the weakest of our three main indicators. November’s total of just 12 was down almost 43 percent versus the previous month’s total of 21. The contrast was not as stark versus 1 year ago, as last November’s total of 14 pending sales off beats this by a total of just 2 pending sales. In yet another comparison, the average number of pending sales reported from September through November of this year was down 10.5 percent relative to this same quarter last year, or 17 versus 19 respectively.
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