Danville December, 2011 Home Sales Up 100 Percent Versus last Year

While the Danville real estate market sunk deeper into its winter slumber, things looked much better in comparison to last year, at least as far as total sales were concerned. December’s total of 14 sales represents a 26.3-percent decrease compared to 19 sales the previous month. But compared to last December’s total of 7 this is a huge 100-percent increase in total sales. Also, there were on average 19 homes sold per month from October through December of this year compared to this same period 1 year ago.

There was mostly negative news when it came to pending sales. December’s total of just 7 pending transactions was down 46.2 percent versus the previous month’s total of 13. Also, compared to last December’s total of 12 this is a 41.7-percent decrease. The only positive comparison came in the form of a nice 40-percent increase in the average number of pending sales per month from October through December of this year versus this same quarter in 2010.

While there were 8.4 percent fewer homes for sale in Indianapolis Indiana in December versus the previous month the market in Danville Indiana held steady at 113 listings during this same period. But compared to last December’s total of 102 this represents a 10.8-percent increase in the number of Danville homes for sale.

Some other noteworthy Danville real estate market stats:

• There were 8.1 months of inventory on the Danville market based on closed sales and 16.1 months of inventory based on pending sales.
• The absorption rate based on closed sales was 12.4 percent, while the absorption rate based on pending sales was 6.2 percent.
• Homes in Danville spent an average of 54 days on the market in December. Compared to the previous month’s average of 95 days this is 43.2-percent improvement. But versus last December’s average for 142 days this is a huge 62-percent improvement in average time on market.
• December’s average ‘sold’ price of $168,000 was 3.4 percent below where it was 1 year ago. The 12-month average is $154,000.
• The average price per square foot of $66 was up 20 percent versus the previous month’s average of $55.