The Brownsburg real estate market showed signs of a definite slow-down in September, 2012—not that this comes as a surprise, considering the time of year. For the second straight month, a marked decrease in sales was observed as a total of just 37 closings took place in September compared to the previous month’s total of 59. Even compared to last September’s total of 39 closings this is a decrease of 5.1 percent. One positive stat: the average number of closed transactions from August through September of this year was up by 14.6 percent relative to this same period 1 year ago.
Pending sales also took a hit as there were just 28 transactions in the September pipeline compared to the previous month’s total of 45, making for a net decrease of nearly 38 percent. But perhaps most striking is the fact that, compare to this same month 1 year ago, total pending sales were down 26.3 percent. At least the average number of pending sales from August through September of this year was up 12.2 percent relative to this same quarter in 2011.
It’s rarely a good thing when sales fall and listings rise. Fortunately, this was not the case as there were 0.7 percent fewer homes on the market in September versus the previous month. Coincidentally, compared to September of 2011 total listings were also down 0.7 percent. From August through September of this year there were on average 3.7 percent fewer homes on the market relative to this same 3-month period last year.
Some other Brownsburg stats worth noting:
- Of the 287 homes listed for sale in September, 53 were new listings. This matches exactly last September’s total.
- Homes were spending an average of 65 days on the market as of September. This is an increase of 3.2 percent versus the previous month, although it is down 24.4 percent versus this same month last year. Over the past 12 months homes in Brownsburg have averaged as many as 114 days on the market and as few as 63. The 12-month average time on market in Brownsburg is 90 days.
- The sold-list differential based on original asking price was 90 percent. Considering that this is most definitely a buyers’ market, 90 percent isn’t bad. The sold-list difference based on original final price was 96 percent.
- There were 7.8 months of inventory based on closed sales and 10.3 months of inventory based on pending sales.
- The absorption rate was 12.9 percent based on closed sales and 9.8 percent based on pending sales.
- The average price per square foot was $70. This is down just 1.4 percent versus the previous month, and down 4.1 percent versus September of 2011.
- The average active price was $208,000. This is down just ½ of 1 percent versus both the previous month and September of 2011, both of which averaged $209,000. The 12-month average active price is $203,000.
- Meanwhile, the average ‘sold’ price was $155,000. This is 3.1 percent below August’s average of $160,000, but nearly 14 percent below last September’s average of $180,000. The 12-month average ‘sold’ price in Brownsburg is $165,000.
- The median price was $125,000.