The Brownsburg real estate market saw great improvement in 2012 in at least 3 key areas: Total closings, total reported pending sales and total listings. A total of 601 homes were sold in 2012 compared to just 481 in 2011. The 2012 average of 50 sales per month represents a very distinct 25-percent increase of 25 percent compared to the 2011 average of just 40 sales per month. Also, from October through December of 2012, there were on average 49 sales per month, or 28.6 percent more, compared to this same quarter in 2011. After all was said and done, there were 120 more closings in 2012 compared to 2011, and that is a good thing for the Brownsburg economy.
Pending sales was another area of great improvement, as there were on average 49 pending transactions reported each month for all of 2012 compared to 2011. In all, a total of 584 pending sales were reported during 2012, or 19.5 percent more, compared to a total of 493 during 2011. From October through December of 2012, there were on average 42 pending sales per month, or 31.3 percent more, compared to an average of just 32 per month during this same quarter in 2011.
One trend that was welcomed news for the market as a whole was a decline in the number of homes for sale. The 2012 total of 3,204 listings represents a 6.3-percent drop in available inventory compared to the 2011 total of 3,424 listings. On average, 267 homes were listed for sale each month during 2012 compared to an average of 285 per month during 2011. The bottom line is that there were 120 fewer homes on the market for all of 2012.
Some other pertinent Brownsburg real estate market stats:
- Brownsburg homes spent an average of 88 days on the market for all of 2012. This is a significant improvement compared to the 104-day average of 2011. What’s more, the average time on market maxed out at 119 days in 2011 compared to a max of 109 days in 2012, making for a 8.4 percent improvement.
- The sold list-difference based on original price remained unchanged at 92 percent from 2011 to 2012. Meanwhile, the sold list-difference based on final asking price dropped by 1 percentage point, from 97 percent in 2011 to 96 percent in 2012.
- The average price per square foot for Brownsburg homes rose by an average of just $1 in 2012, up from the previous year’s average of $69.
- The 2012 average ‘sold’ price remained unchanged from 2011 to 2012, at $168. The average active price, on the other hand, fell by an average of 4.3 percent, from $212,000 in 2011 to $203,000 in 2012.
- The average absorption rate based on closed sales climbed 5 percentage points from 2011, finishing the year at 19 percent. The average absorption rate based on pending sales hit the 18-percent mark, up 4 percentage points from 2011.
- Of the 3,204 homes on the market in 2012, 802 were new listings.
- On average, there were 6 months of inventory based on closed sales for all of 2012, or 28 percent less, compared to 8 months for all of 2011. Based on pending sales, there were 6 months of inventory in 2012 and 7 months of inventory in 2011.