The news was mostly good for the Brownsburg real estate market in February, 2012. Starting with total sales, there was a very encouraging 43.5-percent increase in the number of closings that took place versus the previous month’s total of 23. But the real news is that the most recent figure of 33 closings represents a huge 73.7-percent increase over where the Brownsburg market was 1 year ago, with just 19 closings. From December of 2011 through February of this year there were, on average, 31 closings per month, or a significant 42.9-pecrcent more, versus this same quarter 1 year ago, when the monthly average was just 21.
The only key stat to take a hit in February was that of total pending sales. February’s total of 29 represents a 25.6-percent decrease versus the previous month’s total of 39. HOWEVER, compared to last February’s total of just 28 this is nevertheless an improvement of 3.6 percent. And speaking of improvement, the average number of pending sales from December of 2011 through February of this year improved by 34.8 percent compared to this same quarter 1 year ago, or 31 versus 23 respectively.
The Brownsburg real estate market saw a 2.5-percent decrease in the total number of homes listed for sale in February compared to the previous month. But what really stands out, from a statistical standpoint, is the fact that the most recent total of 235 listings represents a precipitous 16.7-percent decrease in total listings compared to last February’s total of 282. By way of comparison, there were 15.2 percent fewer homes for sale in Indianapolis, IN during the month of February compared to this same time 1 year ago. Finally, Brownsburg Indiana saw a 13.1-percent decrease in the average number of homes listed for sale from December of 2011 through February of this year compared to this same period 1 year ago.
Some other Brownsburg real estate market statistics:
- Homes in Brownsburg spent an average of 101 days on the market in February compared to the previous month’s average of 103 days. However, versus last February’s average of 111 days this does represent a slight, 9-percent improvement. The 12-month average time on market in Brownsburg is 102 days.
- The absorption rate based on closed sales improved significantly versus last month, finishing at a projected 14 percent. This same figure 1 year ago was calculated at just 6.7 percent—clearly a big improvement.
- The absorption rate based on pending sales was 12.3 percent. This is also an improvement versus last February’s figure of just 9.9 percent.
- Homes went for an average of 91 percent of their original list price, and an average of 97 percent of final list price.
- The median price was $136,000.
View other Brownsburg Real Estate Market Reports here.