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Martinsville Home Sales Rise 10.7 Percent in June, 2012

After hitting a 15-month low of 222 in January, 2012, the total number of Martinsville homes listed for sale continued to rise for the 4th consecutive month, most recently hitting a total of 280 in June, 2012. This was no doubt a concern to anyone trying to sell a home, since it represents even more competition in what is most decidedly a buyer’s market. June’s total of 280 listings represents a 4.1-percent increase versus the previous month’s total of 269. Also, compared to June of 2011, this is a 1.4-perent increase to listings. In yet another comparison, there were on average 272 homes for sale each month from April through June of this year, which is 0.4 percent below the average for this same period 1 year ago.

Another area of disappointment concerned total sales. June’s total of 31 closings, while 10.7 percent above the previous month’s total of 28, nevertheless represents a 13.9-percent decrease when compared to this same month 1 year ago. The average number of closings each month, from April through June of this year, was unchanged at 26.

But perhaps the biggest disappointment concerned pending sales. It was not looking great as June’s total of 24 pending sales represents a 38.5-percent decrease relative to the previous month’s total of 39. Nearly as bad, this is a 36.8-percent decrease when compared to last June’s total of 38 pending sales. And from April through June of this year there were, on average, 30 pending sales each month, which is exactly unchanged versus this same period 12 months ago.

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Mike Woods