October has come and gone, so just as with any other month we stop to pause and reflect and look back at the previous month’s sales numbers. The September 2011 Home Sales Report numbers from the Knoxville Area Association of Realtors has some suprising numbers, which we will get into.
Unlike in August, the Knoxville area housing inventory, or months of supply, was slightly up in September, which isn’t great news. However, we are still below 2009 inventory levels and way, way below 2010 levels, so looking at the big picture, I’d say we’re doing pretty darn good. And, you think because months of supply was up last month that active listings were up as well? Well, that would be logical, but it’s also wrong.
Active listings were down sharply in September. You can also see that we were again well below 2009 and 2010 levels and are actually starting to approach 2006 levels, which was, more or less the top of the market. Fewer active listings should help us eventually get our inventory under control, but only if our sales continue to remain steady and upward.
We had fewer closed sales last month than we did in August. However, this isn’t anything to panic about, since sales normally drop down this time of year. The really important thing to note is that September 2011 sales were up above the September 2010 sales AND this was the third month in a row that our 2011 sales bested 2010’s sales. I’d say that’s pretty awesome and a good sign that our market is just a tiny big stronger this Fall than it was this time last year.