Lawrence Township Real Estate Market Report for November, 2012

Lawrence Township saw diminished market activity in the month of November, 2012—no big surprised considering the time of year. What was surprising, though, was how much the market had improved compared to where it was this same time last year. Total sales, for example, fell 11.6 percent from the previous month’s total of 129 closings. But compared to last year, the 114 closings that took place in November represents a 25.3-percent increase in total sales—quite an improvement by any measure. What’s more, the average number of closings logged each month, from September through November of this year, rose 33.7 percent, from 95 closings during this same quarter 1 year ago, to 127 during the most recent quarter.

But total closings wasn’t the only stat to improve. While the most recent total of 96 pending sales, while down 21.3 percent versus the previous month’s total of 122, nevertheless represents a modest 5.5-percent increase compared to last November’s total of 91. Even the average number of pending sales reported each month, during the months of September, October and November of this year rose 9.5 percent compared to this same 3-month period 1 year ago.

The total number of homes for sale fell 8.9 percent versus the previous month’s total of 763. But versus this same month 1 year ago, it was a more pronounced 13.1-percent decrease in listings, from 800 to just 695. And of the 695 homes on the market, 123 were new listings altogether. This is 27.2 percent below the previous month’s total of 169, and 10.2 percent below last November’s total of 137. The 12-month average number of listings placed on the market each month is 178. Finally, from September through November of this year there were, on average, 756 homes on the market, or 12 percent fewer, compared to this same quarter 1 year ago.

View the complete, original report here.