Amid some disappointing statistical developments in the October Franklin real estate market were just a few glimmers of light. The most recent total of 23 closings that took place in October was down 42.5 percent versus the previous month’s total of 40. Not only this, bit versus last October’s total of 36 it is a 36.1-percent decrease in sales activity. In yet another comparison, the average number of closings that took place from September through October of this year was down 11.1 percent compared to this same quarter 1 year ago.
As for those “glimmers”, there were improvements in two key stats when compared to where the market was just 1 year ago. Starting with total pending sales, the most recent total of 30, while unchanged the previous month, was actually up by 20 percent versus October of 2011. Unfortunately, the average monthly figure of 28 pending sales, from September through October of this year, represents a decrease of 12.5 percent relative to this same 3-month period 1 year ago.
After rising for a third consecutive month in September, total Franklin listings finally fell by 6.3 percent. What’s more, versus 12-months ago, the most recent total of 179 listings represents a decrease of nearly 14 percent. Also, from September through October of this year, there were on average 14.4 percent fewer homes on the market compared to this same, quarter last year.
View the complete, original report here.