The Avon real estate market showed significant improvement in several key stats in the month of November, 2012. While total sales were off by 28.6 percent versus the previous month’s total of 63, compared to November of 2011, the most recent total of 45 closings represents a 32.4-percent improvement. Also, from September through November of this year a monthly average of 51 closings took place, up 34.2 percent versus this same 3-month period 1 year ago.
Total pending sales were down versus the previous month, although barely. In fact, this marked the 3rd straight month that this stat had fallen. And since hitting a 12-month high of 362 listings in August of this year, listings are down 17.1 percent. November’s total of 47 reported pending sales represents a decrease of just 2.1 percent. But considering there were just 18 pending sales during the month of November, 2011, this translates into a very shocking 161.1-percent increase! Not only this, but the average number of pending sales reported during the months of September, October and November of this year represents a robust 44.1-percent increase compared to this same 3-month period 1 year ago.
Our third key stat, that of total listings, also showed improvement versus both the previous month and last year. November’s total of 300 homes for sale is 6.2 percent below the previous month’s total of 320. Compared to last November’s total of 326 it is an 8-percent decrease in total listings. From September through November of this year there were, on average, 320 homes on the market each month, or 5.6 percent more, relative to this same quarter 1 year ago, when there were an average of 339 homes on the market. Of the 300 homes on the market in November, 60 were new listings. This is down 15.5 percent versus the previous month’s total of 71, although it is up nearly 58 percent versus last November’s total of just 38. The rolling 12-month average number of listings each month is 71.
Some other pertinent Avon real estate market stats worth noting:
- There were 6.7 months of inventory based on closed sales while based on pending sales there were 6.4 months of inventory.
- The sold-list differential based on original asking price was 86 percent. Based on final asking price the sold-list difference was 96 percent. The 12-month averages for both these stats are 89 and 97 percent respectively.
- The average active price of $205,000 was unchanged versus both, the previous month and November of 2011. The 12-month average is also $205,000.
- The average ‘sold’ price was $166,000. This is down 4.6 percent versus the previous month’s average of $174,000, but up 9.9 percent versus last November’s average of $151,000. The rolling 12-month average ‘sold’ price in Avon is $171,000.
- Homes spent a patience-testing average of 112 days on the market in November, which compared to the previous month’s average of just 78 days represents a 43.6-percent worsening. Over the past 12 months, homes in Avon have averaged as few as 78, and as many as 129, days on the market. The 12-month average time on market is 102 days.
- The average price per square foot was $68. This is unchanged versus the previous month, although it is down almost 3 percent versus last November’s average of $70. The 12-month average price per square in Avon is $69.
- The absorption rate was 15 percent based on closed sales and 15.7 percent based on pending sales.
- The median home price was $143,000.