The Avon real estate market showed significant improvement in several key areas, most notably total pending sales. And by “improvement” I don’t mean just some, I mean a lot. Specifically, there were 38 pending sales in December compared to the previous month’s total of just 18, making for an amazing 111.1-percent improvement in total pending sales. Even compared to this same month 1 year ago this is a 22.6-percent improvement.
While the improvement in total sales was nowhere near the magnitude of our previous stat, there was nevertheless a solid 2.9-percent increase in sales as 35 closings took place in December compared to the previous month’s total of 34. The only downside to the most recent total is that it represents a 2.8-percent decrease compared to last December’s total of 36 sales. But terms of real numbers, we are talking about a mere difference of 1 sale.
Another area of great improvement came in the form of a 10.4-percent decrease in the total number of Avon homes for sale, as there were 292 on the market in December compared to 326 the previous month. In way of comparison, there were 8.4 percent fewer homes for sale in Indianapolis. But an even greater improvement could be seen in comparison to this same month in 2010, when there were 339 homes for sale in Avon Indiana.
Some other Avon real estate market statistics:
- Average time on market improved nearly 6 percent as homes spent an average of 80 days on the market in December compared to the previous month’s total of 85. Compared to last December’s average of 110 days on market this is a 27.2-percent improvement. It also happens to be 17.5 percent below the 12-month average of 97 days.
- Homes in Avon went for an average of 88 percent of their original list price, and an average of 97 percent of final list price.
- The absorption rate based on closed sales was 12 percent, while absorption rate based on pending sales was 13 percent.
- There were 8.3 months of inventory based on closed sales and 7.7months of inventory based on pending sales.
- The average price per square foot rose ever-so-slightly, from $70 in November to $71 in December. The 12-month average price per square foot in Avon is $67.