The Greenfield market followed an overall pattern that was seen in many nearby central Indiana real estate markets. Namely, while an overall worsening could be seen in at least 2 statistical categories versus the previous month, when viewed in a 1-year comparison significant improvement could be seen. To illustrate, take the latest figures for sales: There were 7.5 percent fewer homes sold in August compared to the previous month’s total of 53. But compared to last August’s total of just 27, what had just one moment ago looked like a negative stat suddenly looks a lot better—81.5 percent better to be exact. Even in our quarterly comparison a significant 39.4-percent improvement could be seen in the average number of homes that sold from June through August of this year versus this same period last year.
In the pending sales department there were 18.5 percent fewer pending transactions in August versus the previous month’s total of 54. But, in a similar fashion to our previous stat, this quickly becomes a 37.5-perent improvement when compared to where the Greenfield market was 1 year ago. What’s more, a significant improvement could be seen in our quarterly view, as there were on average 46 pending sales per month from June through August of this year versus this same quarter in 2010.
And with 2.8 fewer sellers on the market in August the market inched toward healthier balance between supply and demand. Compared to last August’s total of 355 Greenfield homes for sale this represents a 3.9-percent improvement. From June through August there were, on average, 345 homes listed for sale on the Greenfield real estate market compared to an average of 349 during this same period 1 year ago, making for a slight 1.1-percent improvement.
A few other Greenfield Real Estate Market Stats:
- Of the 341 homes listed for sale in Greenfield Indiana 62 were new listings. This, however, is nearly 28 percent below the 878 new listings that were added to the Greenfield market in July, not to mention 6 percent below the 12-month average of 66 new listings per month.
- Homes in Greenfield spent an average of 106 days on the market in August, up barely versus the previous month’s average of 105 days, albeit up 10.4 percent versus the 12-month average time on market of 96 days.
- The sold-list differential in Greenfield fell to an average of 95 percent.
- The average price per square foot was $59.
- The absorption rate based on closed sales was 14.4 percent, while the absorption rate based on pending sales was 12.9 percent.