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Pike Township Listings Fall 9.6 Percent in November, 2012

The Pike Township real estate market saw improvements in at least 2 key stats in the month of November, 2012, not the least of which was total sales. Sure, November’s total of 79 closings represents an 8.1-percent decrease versus the previous month’s total of 86. But compared to last November’s total of just 66 closings this is a significant 19.7-percent improvement. Also, the average number of closings each month, from September through November of this year, was up 17.4 percent relative to this same period last year, or 71 versus 69 respectively.

Another statistical improvement came in the form of a 9.6-percent decrease in the number of homes listed for sale, from 521 in October to 471 in November. This is a healthy development from a supply-demand standpoint. But even better is the fact that compared to November of 2011 this is a 16.5-percent reduction in total inventory. And of the 471 homes for sale in November, 89 were new listings. While this is 14.4 percent below the previous month’s total of 104 new listings, it is 6 percent above the November, 2011 total. Versus the 12-month average 115, it is down 22.6 percent. Finally, from September through November of this year, there were an average of 515 homes on the Pike Township market each month, or nearly 15 percent fewer, compared to this same quarter a year ago. One final stat to note concerning total listings: November marks the 5th consecutive month that listings have fallen relative to the preceding month.

One that showed very little improvement concerned pending sales. The most recent total of 60 represents a 24.1-percent decrease versus the previous month’s total of 79. Even compared to last November it is a 3.2-percent decrease; although it should be noted that this equates to a difference of just 2 pending sales. On the bright side, from September through November of this year there was on average 1 more pending sale each month versus this same period last year, or 70 versus 69 respectively.

View the complete, original report here.