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Mooresville Real Estate Market Shows Healthy Signs in October, 2012

The Mooresville real estate market brought showed some very healthy signs in October, 2012. Normally, October is the time of year when colder temperatures bring with them an overall slowing of activity. But not this time. Versus the previous month, sales climbed 33.3 percent, reaching a total of 28 when all was said and done. But even more encouraging is the fact that this represents a 40-percent improvement versus this same time 1 year ago. Moreover, from August through October of this year, on average, a total of 26 closings took place each month, or 30 percent more, compared to this same quarter 1 year ago.

Total pending sales also breathed new life into the Mooresville market as the most recent total of 25 pending transactions rose 19 percent over the previous month. But most impressive is the fact that this represents a huge 66.7-percent increase over this same month in 2011. In yet another comparison, there were 24 pending sales logged each month, on average, during the months of August, September and October of this year, 33.3 percent more, compared to this same quarter last year.

Anyone trying to sell a home in Mooresville had to be pleased by the fact that there was nearly 16 percent less competition to reckon with in October. Versus this same month last year, the most recent total of 132 listings represents a very substantive decrease of 23.3 percent in total inventory. And, from August through October of this year, there were, on average, 146 homes on the market each month, or 14.1 percent fewer, compared to this same 3-month period 1 year ago. Fewer homes on the market can only help average prices if this trend holds steady relative to overall demand.

View the complete, original report here.