The charts below will show market trends for single family Lockport homes from February 2011 through February 2012. The chart below shows homes listed during the time period. As you can see, the amount of listings spiked in May and have continuously declined since, with a slight upturn at the beginning of 2012.
The chart below shows Lockport homes that actually sold and closed. The peak of sold homes was in July, which means the contracts were most likely accepted anywhere from April through June. Unlike properties listed, which has gone up in 2012, sales are decreasing.
The chart below shows the average list price for single family Lockport homes. You can easily see a couple of peaks followed by a continual decline.
The chart below shows actual sale prices. These prices are what an appraiser uses to find comparable homes and prices. You'll notice a big spike in November 2011. There must have been a high priced property that closed that month. The average sales price for all of 2011 in Lockport was $195,910, a 5.4% decrease from the prior year.
The table below is for people like me who would rather see actual numbers and figures vs. graphs. This spells it all out, including average days on market. I feel it is still too early in 2012 to see how much improvement we'll see over last year.
This data is supplied by MREDLLC. The post is written in response to Active Rain's Real Estate Recovery or Not article.