It’s funny how predictable the market can be from one year to the next. Here we are once again in the downward swing of the market that happens every year usually around September. Indeed, October marked the second consecutive month that the total number of homes sold in Brownsburg fell, most recently by 5.1 percent. But in a 1-year comparison, the 37 closings that took place in Brownsburg in October actually represent a 2.8-percent increase versus this same month 1 year ago. Also, from August through October of this year there were on average 41 closings per month, or 5.1 percent more, compared to this same quarter in 2010.
But there was over three times the drop in total pending sales that there was for total closings. October’s total of 30 pending sales, however, represents a 66.7-percent increase versus last October’s total of just 18. In this sense, Brownsburg market is ahead of where it was last year. Oh, and the average number of monthly pending sales from August through October of this year was also up 9.4 percent compared to this same period last year.
Helping ease what most real estate experts consider to be an over-supply of inventory was a 5.9-percent decrease in the total number of Brownsburg homes for sale, from 289 in September to just 272 in October. This is slightly better improvement compared to the 4.9 drop in Indianapolis homes for sale that neighboring Indy experienced during this same time. What’s more, the most recent number of Avon listings represents a 6.2-perent decrease versus the Avon market 1 year ago. From August through October of this year there were on average 287 homes listed per month, or 5.3 percent fewer compare to this same quarter 1 year ago.
Some other Brownsburg real estate market stats:
- Homes in Brownsburg Indiana spent an average of 105 days on the market in October, up nearly 23 percent compared to the 94-day average of the previous month. The 12-month average in Brownsburg is 99 days.
- The average ‘sold’ price was $163,000, while the average active price was $215,000.
- The absorption rate based on closed sales was 13.6 percent, while the absorption rate based on pending sales was 11 percent.
- The average price per square foot was $66.
- The median price was $156,000.