Sellers in Avon, Indiana faced slightly more competition in May, as total listings rose 2.3-percent versus the previous month’s total of 341. Even so, the upside to this is that it is still down nearly 1 percent versus last April’s total of 352 listings. In terms of the overall state of the Avon market, it is this latter statistic that is the most meaningful, since it is more reflective of progress. Another interesting stat: Of the 349 homes listed for sale in Avon, 78 were new listings. Not only is this down nearly 19 percent versus the previous month’s total of 96, but it is down 7.1 percent versus last April’s total of 84 new listings. In yet another comparison, the average number of homes listed for sale each month, from March through May of this year, fell 3.4 percent relative to this same quarter last year.
Another area of improvement came in the form of a 2.1-percent increase in the number of homes sold versus previous month. In fact, the most recent total of 48 closings is 2.1 percent over last April’s total as well. While total pending sales fell 2 percent versus the previous month, they were still 2.1 percent above last April.
Some other interesting Avon market stats:
- Homes spent an average of 84 days on the market in April, which represents a vast improvement of 39 percent versus the previous month’s average of 138 days, which by the way, also happens to be a 15-month high. Homes have not averaged fewer than 76 days on the market over the past 15 months in Avon. The 12-month average is 102 days on market.
- Homes sold for a respectable 92 percent of their original list price, which compares favorably to other nearby Central Indiana towns and cities. This is also an improvement versus the 12-month average of 88 percent. It is unchanged versus April of 2011.
- The average sold-list differential based on final list price was an even-more-respectable 97 percent. This is 1-percent above both last April and the 12-month average, both of which are 96 percent.
- The average ‘sold’ price fell a bit versus the previous month’s average of $183,000. April’s average of $170,000, however, is nearly 2 percent above last year during this same month, albeit barely above the 12-month average of $169,000.
- The average active price of $200,000 was down slightly versus the previous month’s average of $202,000, and down even more versus last April’s average of $221,000. The 12-month average active price in Avon is $206,000.
- The absorption rate based on closed sales was 13.8 percent, while the absorption rate based on pending sales was 14 percent.
- There were 7.3 months of inventory based on closed sales and 7.1 months of inventory based on pending sales.
- The median price was $157,000.
Other Avon Real Estate Resources: