Real Estate Numbers Improve From One Year Ago

There are some figures that show improvement when comparing home sales in November 2011 to sales in November one year prior, according to a Aberdeen MD Real Estate blog post by Scott Miller.

Nearly three months were shaven off the average time it took to sell a home, going from 194 days to 108 days on average.

"This is probably due to the fact that more than 50 percent of the homes sold last year during this time were either foreclosures or short sales, but this year, that rate dropped to under 25 percent," stated Miller.

The number of homes sold in November from one year ago gained by one, from 13 homes to 14. None of the 14 homes sold were or townhouses.

Most of the homes sold were sold at an average price of $181,000 to buyers who used conventional or VA financing. Miller stated this is a change in past months when investors purchased homes with cash.

"It seems to be that lending may be loosening, because new contingent contracts were up by 225 percent! Although not all of these will translate into purchases, many of them will, and that should drive sales upward, at least partially," stated Miller.