The Brownsburg real estate market suffered a fairly large drop in pending sales in November, 2012. Considering the time of year, and the typical holiday distractions that accompany it, this hardly comes as shocking news. Still the 32 pending transactions reported in November represent a 43.9-percent drop versus the previous month’s total of 57. Compared to last November’s total of 37 this is off by just 13.5 percent. The lone, statistical bright spot came in the form of a 16.7-percent increase in the average number of pending sales reported each month, from September through November of this year, relative to this same quarter last year.
While total pending sales is a key predictor of the near-term market performance, it is not the only measure of market health. Take the 49 closings that took place in November: Versus the previous month’s total of 50 this is a decrease of just 2 percent. But the good news is that this is actually a 36.1-percent increase versus last November’s total of 36 closings. And, from September through November of this year, 46 closings were recorded each month on average, or 21.1 percent more versus this same quarter 1 year ago.
Another positive development concerned the total number of homes on the market. November’s total of 240 listings represents a 3.6-perent decrease versus the previous month’s total of 249, and a 7-percent decrease versus last November’s total of 258 listings. What’s more, November’s total marks a new 6-month low in listings. Finally, from September through November of this year there were on average 259 homes on the market, or 5.1 percent fewer, compared to this same 3-month period 1 year ago.
View the complete, original report here.