There were few surprises for the Zionsville real estate market in January, 2012. In fact, the Zionsville market did pretty much what it always does this time of year: Slow down. Starting with total sales, a total of just 22 closings took place compared to the previous month’s total of 32, making for a sharp, 31.2-percent decrease overall. However, compared to last January’s total of just 25 closings this is only a 12-percent drop. In another analysis, the average number of homes sold per month from November of 2011 through January of 2012 rose 3.6 percent compared to this same quarter 1 year ago.
One major bright spot for the Zionsville market came in the form of a 52.9-percent increase in total pending sales. However, January’s total of 26 represents a 10.3-perent decrease when compared to last January’s total of 29 pending sales. Further still, the average number of pending sales per month from November of 2011 through January of 2012 fell 3.8 percent versus this same quarter last year.
Another bright spot was that the total number of homes for sale in Zionsville fell 4.3 percent in January compared to the previous month—a very welcomed change to be sure. Compared to last January’s total of 248, however, this represents a net increase of 8.9 percent. In comparison, there was a 2.4-percent drop in the number of Indianapolis homes for sale versus the previous month, and a 17-percent decrease versus January of 2011. Finally, from November of 2011 through January of 2012 there were, on average, a total of 283 listed on the Zionsville Indiana market, or 4.8 percent more, compared to this same quarter 1 year ago, when the average was 270 per month.
Some Other Zionsville Indiana Real Estate Market Statistics:
- Homes in Zionsville spent an average of 105 days on the market in January, down a bit from the previous month’s average of 118 days, and also down 13.2 percent versus January of 2012.
- The average active price of $559,000 was down nearly 2.8 percent versus last January’s average of $575,000. Meanwhile, the average ‘sold’ price of $343,000 was up 10.7 percent versus last January’s average of $310,000.
- The absorption rate based on closed sales was 8.1 percent, while the absorption rate based on pending sales was 9.6 percent.
- There were 12.3 months of inventory based on closed sales and 10.4 months of inventory based on pending sales.