September marked the 4th consecutive month that the total number of homes listed on the Brownsburg real estate market fell. Versus the 12-month high of 311 listings that occurred in May, 2011 the most recent total of 289 represents a 9.3-percent decrease overall—a more significant difference compared to the 3.2 percent drop in listings that was recorded for the neighboring Indianapolis real estate market. What’s more, there were, on average, 3.6 percent fewer Brownsburg homes per month, from July through September of this year relative to this same quarter 1 year ago, or 296 versus 307 respectively.
But total listings wasn’t the only stat to fall; the total number of homes sold in Brownsburg also fell a precipitous 31.9-percent, from 47 in August to just 32 in September. Even compared to last September’s total of 39 this is a 17.9-percent decrease—it would appear the summer “boom” is over. But one positive stat could be found in all of this: The average number of homes sold per month from July through September of this year rose 15 percent compared to this same 3-month period 1 year ago.
September pending sales fell to a total of 33, down 5.7 percent versus August’s total of 35. Compared to last September’s total of 39, this represents a 15.4-percent decrease overall. Also, the average number of pending sales per month, from July through September fell 5 percent versus this same quarter last year.
A few other noteworthy Brownsburg real estate stats:
- A total of 53 new listings made their way on to the Brownsburg, Indiana market in September, down 13 percent versus the previous month’s total of 61, and down 8.6 percent versus last September’s total of 58.
- The absorption rate based on closed sales was 11.1 percent, while the absorption rate based on pending sales was 11.4 percent.
- There were 9 months of inventory based on closed sales and 8.8 months of inventory based on pending sales.
- The average differential between the ‘sold’ price and original list price was 95 percent, up 3 percent from the previous month’s average of 92 percent.
- The median price was $156,000.