The Brownsburg real estate market took a hit in at least one area: Total pending sales fell a precipitous 47.9 percent in May, 2012 versus the previous month. But not only that, the most recent total of just 38 pending sales was down 28.3 percent compared to last May’s total of 53 pending sales. One bright spot—if it can properly be called that—is the fact that the average number of pending sales logged each month, from March through May of this year, increased slightly, by 1.8 percent compared to this same quarter last year.
But while latest figures for total pending sales were disappointing, total closed sales actually improved, and significantly at that. May’s total of 60 closings was up 9.1 percent over the previous month, and up 15.4 percent compared to May of 2011. What’s more, the average number of closings to take place each month from March through May of this year climbed by 15.2 percent compared to this same period 1 year ago.
Much to the chagrin of sellers everywhere, the total number of Brownsburg homes rose by 2.1 percent, from 284 in April to 290 in May. In fact, since falling to a 15-month low of just 235 listings in February of this year, total listings has thus far risen for 3 consecutive months. But be this as it may, the most recent total in fact represents a 6.8-percent decrease in comparison to last May’s total of 311 listings. Further still, the average number of homes listed for sale on a per-month basis, from March through May of this year, fell by 6.2 percent compared to this same 3-month period 1 year ago.
Some other noteworthy Brownsburg real estate market statistics:
- Homes spent an average of just 75 days on the market in May, down 9.6 percent versus the previous month, and down an even greater 20.2-percent relative to May of 2011. In fact, a 75-day average marks a new, 15-month low for this particular statistic. The 12-month average time on market in Brownsburg is 98 days.
- The average ‘sold’ price was $158,000, while the average active price was $191,000. Both of these represent decreases versus the previous month, of 12.7 and 3 percent respectively. Versus this same month 1 year ago, these are decreases of 5.9 and 10.3 percent respectively.
- The average sold-list differential based on original asking price was 92 percent, while the average sold-list differential based on final asking price was 97 percent. The 12-month averages for these two stats are 91 and 96 percent respectively.
- There were 4.8 months of inventory on the market in April based on closed sales and 7.6 months of inventory based on pending sales.
- The absorption rate based on closed sale was a respectable 20.7 percent, while the absorption rate based on pending sale was 13.1 percent.
- The average price per square foot was $70. This is up only slightly versus the 12-month average of $69.
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