Significant improvements were seen across a range of metrics for the Avon real estate market in 2012, particularly compared to how the market looked in 2011. For starters, home sales were up 14 percent for all of 2012 compared to all of 2011. A total of 592 homes were sold in 2012, 82 more than were sold in 2011. This translates to an average of 49 sales per month versus 43 in 2011. Capping off the year was a 60-percent average increase in the number of homes sold each month, from October through December of 2012, compared to this same quarter in 2011.
But not only were closings up, the number of pending transactions reported during all of 2012 was up 16.3 percent compared to 2011, as there were on average 50 pending transactions in the pipeline each month compared to an average of 43 per month in 2011. In sum, there were 604 pending sales reported for all of 2012 compared to 517 for all of 2011. There were, on average, 47 pending sales per month from October through December of 2012, compared to 33 per month during this same period in 2011.
Another positive development for the Avon real estate market came in the form of a 5.8-percenet decrease in the total number of homes listed for sale in 2012 compared 2011. In all, a total of 3,890 homes were on the market in 2012 compared to 4,128 during 2011. The bottom line is that there were 238 fewer homes on the market in 2012. On a month-to-month basis, there were 324 homes on the market, on average, compared to 344 per month during 2011. And of the 3,890 homes listed for sale in 2012, 848 were new listings, or 21.7 percent.
Some other pertinent Avon real estate market stats:
- One stat that didn’t change was the average sold-list difference based on original asking price. Avon homes spent went for an average of 89 percent of original list price in both 2012 and 2011. Also unchanged was the sold-list difference based on final asking price; for both 2012 and 2011 it was 96 percent.
- Avon homes spent an average of 107 days on the market in 2012, up 10.3 percent versus the 2011 average of 97 days.
- The average price per square foot rose from $67 in 2011 to $69 in 2012.
- The average active price was down 2.8 percent, from $211,000 in 2011 to $205,000 in 2012. Meanwhile, the average ‘sold’ price was up 1.8 percent, from $168,000 in 2011 to $171,000 in 2012.
- On average, there were 7 months of inventory based on closed and pending sales in 2012.
- The average absorption rate in 2012 was 15 percent based on closed sales and 15 percent based on pending sales.