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Washington Township Real Estate Market Sees Some Improvement in November, 2012

The Washington Township real estate market was improved in at least 2 key areas: Total listings and total pending sales. While a 30.6-percent decrease in pending sales versus the previous month’s total of 147 isn’t great news per se, compared to last November’s total of 95 it is a decent, 7.4-percent increase. The average number of pending sales reported from September through November of this year, however, was down by an average of just 2 pending sales per month relative to this same quarter 1 year ago.

The3 news was not nearly as good as it concerned sales. November’s total of 111 represents a 33.5-percent decrease versus the previous month’s total of 167. Even compared to last November’s total of 123 it is a distinct albeit less pronounced decrease of 9.8-percent. If there is a positive spin to be found, then it lies in the fact that an average of 140 closings took place each month, from September through November of this year, or 4.5 percent more, compared to this same quarter last year.

IN a welcomed turn of events, the total number of homes listed on the Washington Township market fell to 815 in November, down 4.3 percent versus the previous month’s total of 852. In fact, November goes on record as the 4th straight month that total inventory shrank relative to the previous month. Versus last November’s total 1,011 listings this is a far greater, 19.4-percent decrease. There were 20.8 percent fewer listings on the market during the months of September, October and November of this year, compared to this same 3-month period 1 year ago, or 847 versus 1,069 respectively.

View the complete, original report here.