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Martinsville Home Sales Rise 48 Percent in October, 2012

The Martinsville real estate market made significant strides in October, 2012. What was especially surprising about the latest improvements is that they come at a time of year that is normally associated with a seasonally-induced slow-down in market activity. Starting with sales, a total of 37 closings took place in October, up 48 percent versus the previous month’s total of 25. Versus this same month last year, sales were up 27.6 percent. Comparing the average number of monthly closings from September through October of this year relative to this same 3-month period 1 year ago, no change was observed.

Also noteworthy was a 29.2-percent increase in total pending sales, from 21 in September to 31 in October. But not only were pending sales up versus the previous month, compared to October of 2011 they were up nearly 35 percent. There was no change in the average monthly number of pending sales each during the months of August, September and October relative to this same 3-month period in 2011; both quarters showed an average of 30 pending sales per month.

There were 273 homes listed on the Martinsville market in October, down 3.5 percent compared to the previous month’s total of 283. But compared to last October’s total of 260 listings, this is actually an increase of 5 percent. In fact, this 1-year comparison stands in stark contrast to what has been observed in most nearby Central Indiana cities, where a reduction in total listings has been the norm. Finally, from August through October of this year there was an average of 277 homes listed for sale each month, or 1.8 percent more, compared to this same period last year.

This report provided courtesy of msWoods Real Estate.

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View the complete, original report here.