Good News In The Housing Market

April Residential Highlights



Comparing April 2012 with


April 2011 shows improvement


in both pending and closed sales,


which were also up compared to


the previous month. There were


2,365 accepted offers, 18.0% more


than the 2,005 reported in April


2011 and 4.1% more than the


2,272 in the previous month. In


fact, with the exception of March


and April of 2010 which were


impacted by deadlines for the


First-Time Homebuyer Tax Credit,


the number of pending sales is


higher than any month since


August 2007. The 1,822 closed


sales represent a 13.1% increase


over the same month last year,


when 1,611 were recorded, and


7.6% more than the 1,694 sales in


March.


New listings this April (3,038)


were down slightly compared to


April last year (3,099), but rose


5.3% compared to March (2,886).


The unsold inventory is the lowest


it has been since June 2007. It


would take only 4.7 months to


sell the 8,523 active listings at the


April rate of sales.


Year-to-Date


Compar ing the f irst four


months of 2012 with the same


period in 2011 shows closed sales


increased 13.1% from 5,513 to


6,236. Pending sales were up by


17.5% increasing from 6,806 to


8,000. New listings were down


9.7% at 12,378 versus 11,182. Total


time on market decreased 18.3%


from 161 to 132.


When comparing homes prices


year-to-date this year and last,


there is less than 1% difference


in both median sales price and


average

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