Here's a snapshot of the bi-monthly update for January 16-31, 2012. Continuing the trend, the number of active listings (supply) is down 21%, when compared to the same period last year, and the number of pending contracts (demand) is up almost 40%.
There is data on each individual submarket for the past two weeks, but to highlight one area, the Summerville market (areas 61 – 63) was up 22% in pending sales and 20% in closings when compared to the same two weeks last year.
Between January 16th and the 31st, market wide, there were 588 ratified contracts in MLS and the number of closings identified as either a short sale or as bank owned were down 16.3% compared to January of last year.
We also continue to see a tremendous level of activity across many areas, from the number of showings and pending contracts to the traffic at open houses and in our New Homes communities.
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