The Avon real estate market didn’t do so well in March, 2012, even as warmer temperatures made for better home shopping conditions. The news was mixed in at least one key statistical category: Namely, that of total listings. A total of 324 Avon homes for sale translated into a 14.1-percent increase versus the previous month’s total of 284. This isn’t really good news since one of the biggest challenges facing the market right now is excess inventory. By way of comparison, there the 5,733 homes for sale in Indianapolis marked an increase of just 2.2 percent during this same period. Looking at the Avon Indiana market 1 year ago, however, the most recent total represents a decrease of 6.1 percent, which is most definitely a good thing.
One area of concern was that of total sales. March’s total of 35 closings represents a 12.5-percent decrease versus the previous month. Compared to March of 2012 total closings were down a disconcerting 31.4 percent. Also, from January through March of this year there were, on average, a total of 35 closings per month, or 2.8 percent fewer, compared to this same period last year, when the average was 36.
Total pending sales remained unchanged versus the previous month at 45. However, versus last March’s total of 56 pending sales were down by 19.6 percent. The average number of pending sales each month, from January through March of this year was down 14.6 percent compared to this same period last year, or 41 versus 48 respectively.
Some other Avon Real Estate Market Stats:
- Home in Avon Indiana spent an average of 105 days on the market, down 9.5 percent versus the previous month albeit up 6 percent versus last March’s average of 99 days. Still this is better than the 15-month high average of 123 days that occurred in April of 2012. The 12-month average time on market is 101 days in Avon.
- The absorption rate was 10.8 percent based on closed sales and 13.9 percent based on pending sales. This is down versus last year’s figures of 14.8 and 16.2 percent respectively during this same month.
- There were 9.3 months of inventory based on closed sales and 7.2 months of inventory based on pending sales.
- The average ‘sold’ price of $156,000 was down nearly 12 percent versus the previous month’s average of $177,000. This same average was $170,000 1 year ago. The average active price was $206,000.
View other Avon Real Estate Market Reports here.