In what has historically been a slow month for the real estate sales in central Indiana the city of Avon saw 16.7 percent fewer homes sold in January compared to the previous month, or 30 versus 36 respectively. Also, while the Avon market did not improve versus where it was 1 year ago, it also did not worsen, as the most recent total of 30 closings matches that of January 2011.
Total Avon pending sales fell a significant 29.3-percent, from 41 in December to just 29 in January. Even compared to last January’s total of 39 this is a 25.6-percent decrease—not exactly the news anyone wanted to hear. The average number of pending sales per month from November, 2011 through January of 2012 fell to 29, down 14.7 percent versus an average of 34 during this same period 1 year ago.
There were 296 homes for sale in Avon in January, up 1.4 percent versus the previous month’s total of 292. In comparison, there were 2.4 percent fewer homes for sale in Indianapolis during this same period. Compared to last January’s total of 334 listings in Avon Indiana the inventory was down 11.4 percent, which is actually quite a positive development.
Some other Avon real estate market statistics:
- Homes in this central Indiana city spent an average of 129 days on the market in January. This is an agonizing 65-percent increase versus the previous month’s average of just 78 days—at least if you’re a home seller. Versus last January’s average of 121 days, however, this is only a 6-percent increase. The12-month average time on market in Avon is 98 days.
- Homes went for an average of 89 percent of original list price, which is actually not terribly bad relative to other central Indiana markets. As a percent of final list price the sold-list differential was 97 percent.
- The absorption rate based on closed sales was 10.1 percent, while the absorption rate based on pending sales was 9.8 percent.
- There were 9.9 months of inventory based on closed sales and 10.2 months based on pending sales.
- The average active price fell 2.4 percent versus the previous month’s average of $209,000, to $204,000. Versus last January’s average active price of $210,000 this is only a 2.9-percent decrease. The 12-month average is $211,000.
- January’s average ‘sold’ price of 178,000 was up 2.9 percent over the previous month’s average of $173,000, and up 1.1 percent versus last January’s average of $176,000. The 12-month average ‘sold’ price in Avon is $168,000.