Closed and pending sales were both up in July 2011 compared with July 2010. Additionally, the inventory level in July 2011 was down 3.8 months compared with the same month a year ago.
Closed sales grew 21% in July 2011 compared to July 2010. Pending sales were up 18.4%, and new listings dropped 27%.
Comparing June 2011 with July 2011, closed sales decreased from 1,958 to 1,709 (-12.7%). Pending sales decreased from 2,001 to 1,928 (-3.7%). New listings went down from 3,143 to 2,942 (-6.4%).
At the month’s rate of sales, the 11,970 active residential listings would last about 7 months.
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