Martinsville Average Time on Market Cut Nearly in Half in May, 2012

The Martinsville real estate market saw a significant, 44.4-percent increase in sales, as a total of 26 closings took place in May of 2012 compared to the previous month’s total of just 18. The only downside to this stat is the fact that it is a 3.7-percent decrease compared to May of 2011. That said, an average of 24 closings took place each month from March through May, which represents a 9.1-percent improvement over this same quarter in 2011.

Another area of improvement was that of total pending sales. May’s total of 33 represents a 22.2-percent increase over April’s total of 27. Even better, it is a 50-percent increase over last May’s total of 22. And the per-month average of 30 pending sales that were logged from March through May of this year represents a more-than-decent 20-percent increase over this same 3-month period 12 months ago.

While there were 1.1 percent more homes listed for sale in May, compared to last year’s total of 269 the most recent figure represents a 4.9-percent decrease in total listings. And the monthly average of 262 homes for sale, from March through May of this year, represents a very slight 0.8-percent decrease versus this same 3-month period 12 months ago. Of the 269 homes for sale in May, 59 were new additions to the Martinsville market. This is down 10.6 percent from last May’s total of 66. The 1-year average number of new listings is 47 per month.

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