The "Number of Sales" shows the demand, or how many properties closed escrow. Is the number of sales increasing or decreasing?
Source: MLS (Multiple Listing Service)
Our opinion of what it meansJanuary 2012: There were 33 sales of condominiums and townhouses in December, exactly the same as 33 sales in December 2010. 64% of the December sales were short sales or bank-owned properties.
BACKGROUND: The number sales is seasonal. Each year, January and February have the fewest number sales, because people are usually too busy to shop for homes during November and December. The highest number of sales is in June or July, because more buyers shop for homes in the summer. Note this repeating annual pattern in the above graph.
The condo/townhouse graphs do not show as smooth a transition from month to month as the house graphs. This is because there are far fewer condo and townhouse sales in Santa Cruz County than house sales. In the field of statistics, a larger quantity of numbers makes a better statistic.
A ‘sale', in this context, means a close of escrow. July sales mean condos that closed escrow in July, but probably went under contract in May or June.