The Brownsburg Indiana real estate market didn’t fare as well as those of other nearby central Indiana towns and cities. Total pending sales, often a good predictor of things to come, showed a 32.9 percent decrease as there were just 29 pending sales in the August pipeline compared to the previous month’s total of 43. Even compared to August of 2011’s total of 39 this is a 25.6-percent drop. However, the average number of pending sales per month, from June through August of this year, while down versus this same period 1 year ago, was down only 2.3 percent.
Unlike nearby Avon, Brownsburg did not undergo an increase in total sales. In fact, sales slid 19.6 percent, from 56 in July to 45 in August. On the bright side, this represents a 9.8-percent increase versus last August’s total of 41 sales. Another way to measure performance is by comparing the most recent 3-month period to the same period 1 year ago. From June through August of this year there were, on average, a total of 51 closings per month, or 13.3 percent more, compared to this same quarter in 2010.
The total number of Brownsburg homes for sale fell by a total of 1. While this can barely be called an “improvement” it is nevertheless better than the alternative–in this market, any decrease in inventory is a good thing! Versus August of 2010’s total of 313, this is a 4.5-percent decrease in total listings. Of 299 homes listed for sale on the Brownsburg real estate market 61 were new listings. This total represents a 25.6-percent decrease versus last August’s total of 82 and an every-so-slight 1.6-percent decrease versus the 12-month average of 62 new listings per month.
Some other noteworthy Brownsburg real estate market stats:
- Buyers paid an average of $68 per square foot in August, down 9.3 percent versus the previous month’s average of $75. August’s $68 was also 4.2 percent below the 12-month average price per square foot of $71.
- The average active price for homes in Brownsburg fell a slight 2.3 percent, from $217,000 in July to $212,000 in August. The 12-month average active price is $213,000. Meanwhile, the average ‘sold’ price during this same 1-month period also fell, 6.8 percent to be exact, from $174,000 to $162,000. The 12-month average ‘sold’ price is $175,000.
- The absorption rate based on closed sales was 15.1 percent, while the absorption rate based on pending sales was 9.7 percent.
- The median price was $148,000.