While the Avon real estate market was not terribly impressive in June, there were nevertheless statistically significant improvements seen in several areas. Total listings, for example, rose 3.2 percent, from 349 in May to 360 in June. What’s more, June marked the 4th consecutive month that listings rose since falling to a 15-month low of 254 in February of 2012. Yes, it is true that more listings is not what the market needs right now especially if you’re a seller. But why a 3.2-percent increase is not altogether a bad thing is because it is still 3.5 percent below last June’s total of 373 listings. So, in a somewhat longer-term view, it is clear the market has improved. In another comparison, the average number of homes on the market from April through June of this year was down 2.5 percent relative to this same quarter last year, or 350 versus 359 respectively. Of June’s 360 homes for sale, 99 were new listings. This is up 28.6 percent from the 77 homes that were placed on the market just one month prior, although it is barely an increase when compared to last June’s total of 97 new listings. The 12-month average is 71.
Total sales was perhaps the area of greatest improvement. A total of 63 closings took place in June compared to the previous month’s total of 50. What’s more, versus last June’s total of 55 this is a 14.5-percent improvement. As well, the average number of closings that took place each month, from April through June of this year, was up 1.9 percent relative to this same period in 2011.
And while total pending sales fell 16.4 percent versus the previous month’s total of 61, the most recent total of 51 represents a 13.3-percent improvement compared to last June’s total of just 45. From April through June there were, on average, 55 pending sales on the books per month. Compared to an monthly average of 47 pending sales during this same period last year, this represents a healthy 17-percent improvement.
Some Other Noteworthy Avon Real Estate Market Stats:
- Avon homes spent an average of 98 days on the market in June, 2012. While this is nearly 9 percent worse compared to the previous month’s average of 90 days, it is nearly 6 percent improved versus last June’s average of 104 days. Over the past 12 months homes in Avon have averaged no fewer than 76 days on the market and no more than 138 days. The 12-month average time on market is 102 days.
- Homes sold for an average of 87 percent of their original asking price in June. This is down 5 percent from the previous month’s average of 92, and down 4 percent versus last June’s average of 91 percent.
- The sold-list differential based on final asking price averaged 96 percent. This is unchanged versus last June and the 12-month average, both of which equal 96 percent.
- The average price per square foot in June was $69.
- There were 5.7 months of inventory based on closed sales and 7.1 months of inventory based on pending sales.
- The absorption rate based on closed sales was 17.5 percent, while the absorption rate based on pending sales was 14.2 percent.
- The average active price was $203,000, while the average ‘sold’ price was $175,000.
- The median price was $138,000.
View other Avon Real Estate Market Reports.