Plainfield Real Estate Market Improves in December, 2011

In December, 2011 the Plainfield real estate market was ahead of where it was a year ago in several key areas. Starting with total pending sales, December’s total of 25 was not only 47.1 percent above the previous month’s total of 17, but it was up 38.9-percent compared to 1 year ago. Plus, there were on average 24 pending sales per month, or 26.3 percent more, from October through December of this year compared to this same period in 2010, when the average was 19.

Considering the time of year it is surprising that total sales rose 63.2 percent in December compared to the November’s total of 19. But compared to last December’s total of 31 sales there was no change.

There were 8.4 percent fewer homes for sale in Indianapolis, IN in December compared to the previous month. By contrast, there was a 9.7-percent decrease in the number of Plainfield homes for sale during the same period. Even better, the total number of homes listed for sale in Plainfield Indiana fell 12.2 percent compared to where the market was 1 year ago.

Some other pertinent Plainfield real estate market stats:

• With such a marked increase in the number of homes sold there was a corresponding decrease in the availability of inventory based on closed sales. Total inventory based on closed sales fell from 9.2 months in November to just 5.1 months in December. Meanwhile, total inventory based on pending sales fell from 10.3 months to 6.3 months during this same period.
• The absorption rate based on closed sales was 19.6 percent, while the absorption rate based on pending sales was 15.8 percent.
• The average active price was $169,000, and the average ‘sold’ price was $146,000.
• Homes in Plainfield spent an average of 88 days on the market. This is 14.3 percent above last December’s average of 77 days, albeit 7.4 percent below the 12-month Plainfield average of 95 days.
• The average sold-list differential based on original list price was 91 percent, while the average sold-list differential based on final list price was 95 percent.