As the saying goes, “the numbers don’t lie.” This was especially true for the Mooresville real estate as November’s total of just 15 sales represents a 25-percent decrease versus the previous month’s total of 20. Compared to last November’s total of 17 this is just an 11.8-percent decrease. And the monthly average of 19 closings from September through November of this year represents no change versus this same quarter 1 year ago.
Total pending sales fell 26.7 percent, from 15 in October to just 11 in November. Even worse is the fact that compared to last November this is a 38.9-percent decrease in total pending sales.
While there were 4.1 percent fewer homes for sale in Indianapolis Indiana in November compared to the previous month there was a 6.4-percent drop in Mooresville Indiana during this same time. Moreover, Mooresville’s total of 161 listings in November represents a 3.6-percent decrease versus this same time 12 months ago. There were also 6.7 percent fewer homes for sale on the Mooresville real estate market from September through November of this year compared to this same period 1 year ago, when the per-month average was 179.
Some other Mooresville real estate market stats:
- Mooresville buyers benefited from a 9.8-percent decrease in the average price per square foot as this figure fell to $61 in November. This is also nearly 9 percent below the 12-month average price per square foot of $67.
- November’s average of 144 days on market represents a significant 42.5-percent worsening compared to the previous month’s average of 101 days, which was also not so hot. The 12-month average time on market in Mooresville is 107 days.
- The average ‘sold’ price fell 7 percent, from $142,000 in October to $132,000 in November. The 12-month average ‘sold’ price is $140,000. The average active price fell to $199,000, or 3.4 percent, over this same period.
- The absorption rate based on closed sales was 9.3 percent, while the absorption rate based on pending sales was 6.8 percent.
- There were 10.7 months of inventory based on closed sales and 14.6 months of inventory based on pending sales.