It was clear that winter was on its way out in February, at least as far as the Avon real estate market was concerned. Total sales rose an impressive 30 percent, from just 30 closings in January to 39 in February. What’s more, this represents a 39.3-percent increase versus last February’s total of just 28 closings. From December of 2011 through February of this year there were, on average, 35 closings per month, or 12.9 percent more, compared to this same quarter 1 year ago.
Total pending sales also saw significant improvement as February’s total of 42 represents a nice 20-percent increase versus the previous month’s total of 35. The only downside to the most recent total is the fact that, compared to last February’s total of 48, it represents a 12.5-percent decrease in total pending sales. From December of 2011 through February of this year the average number of pending sales on a monthly basis remained unchanged versus this same period 1 year ago, at 39.
One positive development, at least as far as Avon sellers had to be concerned, was a 4.1-percent decrease in the total number of homes on the Avon real estate market. In comparison, there were 1.5 percent more homes for sale in Indianapolis during this same period. But the most recent figure of 284 Avon listings represents a much larger 9.3-percent decrease versus last February’s total of 313. Finally, there were, on average, 11.6 percent fewer homes on the Avon Indiana market from December of 2011 through February of this year compared to this same 3-month period 1 year ago.
Some other pertinent Avon real estate market statistics:
- Homes in Avon spent an average of 115 days on the market, which may not seem all so great, except for the fact that the previous month’s average was 129 days! Versus last February’s average of 84 days, however, this is a 29-percent worsening, at least as far as home sellers are concerned. The 12-month average time on market in Avon is 100 days flat.
- The average sold-list differential based on original list price was 87 percent. This is down 2 percent versus the previous month’s average of 89 percent, although it matches exactly last February’s average which was also 87 percent. The sold-list differential based on final list price was a bit better at 95 percent. The 12-month average for this stat is 96 percent.
- The absorption rate based on closed sales improved to 13.7 percent versus the previous month’s figure of 10.1 percent. This is also significantly improved versus last February’s figure of just 8.9 percent.
- The absorption rate based on pending sales also improved to 14.8 percent. This is down only a tad versus last February’s figure of 15.3 percent.
View other Avon Real Estate Market Reports here.