The end of the year is a good time to take a look back and see how things shaped up. After all of the negative press, residential real estate sales in Auburn improved, both for the month of December 2011, and year over year compared to 2010.
Here’s a quick look at the numbers:
Who says the economy still not improving!? Compare the numbers from 2008!
The next chart compares year end stats:
I’m jazzed! Look at that nice up-tick in closed sales!
Traditional sales are creeping up in number …. a really good thing, but equally good is noting that Bank-Owned property sales are also closing, getting some of those low, low priced homes off the market. I expect to see a gain in short sale property closings in 2012 as some of the big banks are finally getting their acts together and realizing that closing on short sales actually keep prices up a bit higher than foreclosing and then dropping the price even further.
One final quick note: remember that sales that close in a given month probably received offers in the previous month … typically about 45 days prior to the date of closing. Unless we’re talking about short sales, of course, which continue to take about 60 days or more to receive bank approval after an offer is presented to them and then another 45 days to close the transaction.