The Mooresville real estate market left a lot to be desired in June, 2012—at least if you were trying to sell a home! The stats did not favor sellers to be sure. Starting with total sales, there were 8 fewer closings in June, 25 percent fewer, compared to the previous month’s total of 32. But even compared to a year ago this is a 4-percent decrease. The only positive to come out of our latest data-crunching is the fact that an average of 30 closings took place each month, or 30.4 percent more, from April through June of this year relative to this same quarter 12 months ago.
And things didn’t look any rosier when it came to pending sales. June’s total of 23 represents a 28.1-percent decrease relative to the previous month’s total of 32, and an 11.5-percent decrease relative to last June’s total of 26. In fact, total pending sales has pretty much been on a downward trajectory ever since March of this year. But, like our previous stat, there was at least one positive to come out of it: Namely, there were on average 30 pending sales from April through June of this year, or 15.4 percent more, relative to this same 3-month period last year.
Total listings were another area of concern as an additional 2 homes made their way on to the market in June. At least when compared to last June’s total of 179 listings this is a2.8-percent decrease. Another positive: The average number of homes listed for sale from April through June of this year was down 2.8 percent relative to this same quarter 12 months ago.
Some other pertinent Mooresville real estate market statistics:
- Mooresville real estate fetched an average ‘sold’ price of $157,000 in June, up nearly 2 percent compared to the previous month’s average of $154,000, and up nearly 13 percent versus last June’s average of $139,000. The 12-month average ‘sold’ price is $151,000.
- The average active price in Mooresville also rose slightly, from $204,000 in May to $207,000 in June. Versus June of 2011 it was unchanged. Versus the 12-month average of $201,000 it was up nearly 3 percent.
- The absorption rate based on closed sales was 13.8 percent, while the absorption rate based on pending sales was 13.2 percent.
- There were 7.3 months of inventory based on closed sales and 7.6 months of inventory based on pending sales.
- The average price per square foot was $82. This is up nearly 4 percent versus the previous month’s average of $79, and up 9.3 percent relative to last June’s average of $75. The 12-month average price per square foot in Mooresville is $73.
- The median price was $143,000.
View other Mooresville Real Estate Market Reports.