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Danville Real Estate Market Improves in 2012

Real Estate Report by m.s.Woods Real Estate, LLC. –  The Danville real estate market ended the year 2012 having improved significantly in several key statistical areas. Unfortunately, the total number of homes listed for sale was not among these improvements, at least not in the context of the current economy. A total of 1,566 homes were on the market in 2012, up 2.3 percent versus the 2011 total of 1,537 listings. Still, we are not talking about a huge increase. On average, there were 131 homes listed for sale each month in 2012 compared to 128 per month in 2011. And, from October through December of 2012, there were on average 8.8 percent fewer homes on the Danville market compared to this same quarter in 2011. The bottom line is that this was not a significant setback for the market, even if it did nothing to help prices. Of the 1,566 homes on the market in 2012 331 were new listings.

A total of 211 homes were sold in 2012 compared to just 179 for all of 2011. On average, a total of 18 closings took place per month in 2012, or 20 percent more, compared to an average of 15 per month in 2011. The average number of homes sold per month during the last quarter of 2012 was up 10.5 percent versus this same quarter in 2011, or 21 versus 19 respectively.

Total pending sales was a strong point as well. During the most recent quarter, from October through December of 2012, an average of 16 pending transactions were reported compared to an average of 14 during this same quarter in 2011, making for a 14.3-percent improvement. A total of 210 pending sales were reported for all of 2012, up 20 percent versus all of 2011. On average, 18 pending sales were reported each month in 2012 compared to 15 per month the year prior to this.

View the complete, original report here.