The latest sales figures for the Avon real estate market sure didn’t look like what many Central Indiana real agents have come to expect, given the time of year and the seasonal slump that normally accompanies it. Not only does October’s total of 62 closings represent a 40.9-percent increase versus the previous month’s total of 44, but compared to last October’s total of just 35 it is a huge, 77.1-percent increase in sales. And, from September through October of this year there were an average of 53 closings each month, making for a 23.3-percent increase compared to this same quarter 1 year ago.
While total pending sales fell 17 percent, from September to in October, compared to 12 months ago, this is an increase of percent. And the average number of pending sales logged from September through October of this year rose 14 percent versus this same 3-month period in 2011.
A small-but-unmistakable improvement was seen in the latest figures for total listings. The most recent total of Avon homes for sale represents a 5.9-percent decrease versus the previous month’s total of 340, and a 7.8-percent decrease versus this same month 1 year ago. And, from September through October of this year there were, on average, 341 homes on the market each month, or 3.9-percent fewer, compared to this same quarter in 2011.
Some other pertinent Avon real estate market stats:
- A total of 73 listings were added to the market in October, accounting for nearly 23 percent of the total listings on the market. This is a sharp, 82.5-percent increase versus the previous month’s total of 73, and a 5.8-percent increase versus last October’s total of 69. The 12-month average number of new listings per month is 69.
- Homes in Avon spent an average of 77 days on the market in October. This represents a 23-percent decrease versus the previous month’s average of 100 days. Moreover, it represents a 12-month low as homes in Avon have averaged no fewer than 77 and no greater than 138 days on market over the past 12-months. The 12-month average time on market is an even 100 days.
- The absorption rate was 19.4 percent based on closed sales and 13.1 percent based on pending sales.
- There were 5.2 months of inventory based on closed sales and 7.6 months of inventory based on pending sales.
- The average price per square foot was $68. This is unchanged versus the previous month, although it is 3 percent above last October’s average of $66. The 12-month average price per square foot in Avon is $69.
- The sold-list differential based on original asking price was 88 percent. The sold-list difference based on final asking price was 97 percent. The 12-month averages for both these metrics are 89 and 976 percent respectively.
- October’s average ‘sold’ price of $169,000 was up just 1.2 percent versus the previous month’s average of $167,000, and 3 percent above last October’s average of $164,000. The 12-month average ‘sold’ price is also $169,000.
- The average active price of $205,000 was down just 1.9 percent versus the previous month’s average of $209,000, albeit unchanged versus last October’s average. The 12-month average active price in Avon Indiana is also $205,000.
- The median home price was $139,000. This is down nearly 10 percent versus the previous month’s median price of $154,000. The 12-month average for this stat is $148,000.