Inventory down 22%!!!
The market report for December showed some very positive signs and strides for the market. Traditionally, December is a slow month for real estate sales, but this December showed some positive activity. See below for the market report broken down by section:
Versus last year, the total number of homes available this month is lower by 182 units or 22%. The total number of active inventory this December was 641 compared to 823 in December 2010. This month’s total of 641 is lower than the previous month’s total supply of available inventory of 719, a decrease of 11%. Seeing as real estate is a Supply and Demand business this is a very positive sign!!
There was an increase in total units sold in December, with 67 sold this month in Wicomico County Real Estate. This month’s total units sold was lower than at this time last year, another positive sign, especially to be in the month of December.
Months of Supply
In December, there was 9.6 months of supply available in Wicomico County, compared to 11.8 in December 2010. That is a decrease of 19% versus a year ago.
New Listings & Current Contracts
This month there were 51 homes newly listed for sale in Wicomico County compared to 65 in December 2010, a decrease of 22%. There were 66 current contracts pending sale this December compared to 43 a year ago. The number of current contracts is 53% higher than last December, 53% higher is a BIG deal, that is a HUGE increase in market activity!!
Lets hope this positive market improvement continues through the new year!!