The Avon Indiana real estate market showed at least some positive signs in August of 2011, even as summer was beginning to wind down. But first the not-so-good news: Total pending sales fell 15.9 percent, from 44 in July to just 37 in August, 2011. Comparing this to last August’s total of 46 pending sales this represents a decrease of 19.6 percent. But viewed in a quarterly comparison, the average number of pending sales per month from June through August of this year was up 2.4 percent versus this same period 1 year ago, or 42 versus 41 percent respectively.
The good news was that, compare to the previous month’s total of 46, total closed sales were up 10.9 percent, as the month of August logged a total of 51. But what’s even more impressive is that August’s total of 51 closings represents a hefty 64.5-percent increase versus last year’s total of just 31 during this same month. Even when we compare the average number of sales that occurred on a monthly basis from June through August of this year to that of this same period 1 year ago a 27.5-percent increase can be seen.
While there were more homes sold there were also more homes on the market, albeit a slight 0.3-percent more. Compared to this same month 1 year ago, however, there were 12.4 percent fewer Avon homes for sale in August of this year, or 376 versus 429 respectively. Also, the Avon real estate market saw an 11.1-percent decrease in the average number of homes listed for sale per month from June through August when compared to this same quarter in 2010, or 375 versus 422 respectively.
Some other pertinent Avon real estate market stats:
- Homes in Avon spent an average of 76 days on the market on August, down 32.1 percent versus the previous month’s average of 112 days—a very nice improvement indeed, if you’re a seller. This is also down 24.7 percent versus the 12-month average of 101 days.
- The absorption rate based on closed sales was 13.6 percent, while the absorption rate based on pending sales was 9.8 percent.
- There were 7.4 percent months of inventory based on closed sales, while there were 10.2 months of inventory based on pending sales.