The Center Township real estate market failed to impress in September of 2011. Total sales fell 32.2 percent, from 118 in August to just 80 in September. What’s more, September’s total of 80 represents a 20.8-percent decrease in total sales compared to 1 year ago. Not to mention the fact that there were on average 5.7 percent fewer closings taking place per month from July through September of this year compared to this same period 1 year ago.
In the category of pending sales September’s total of 88 was unchanged from that of the previous month. Versus September of 2011, however, this is a 13.7-percent decrease. From July through September of this year there were, on average, 13.8 percent fewer pending sales in the pipeline compared to this same period last year.
There were 1,145 homes for sale in the Center Township area of the Indianapolis real estate market in September versus the previous month’s total of 1,157, making it a decrease of just 1 percent. Compared to last year’s September total of 1,404, however, this is a pretty significant decrease of 18.4 percent. From July through September of this year there were also 19.9 percent fewer homes listed on the Center Township real estate market on a per-month basis compared to this same period 1 year ago.
Some other Center Township real estate facts:
- 190 of the 1,145 homes for sale in Center Township were new listings. This is down 18.1 percent versus last September.
- The absorption rate based on closed sales was 7 percent, while the absorption rate based on pending sales was 7.7 percent.
- There were 14.3 months of inventory based on closed sales and 13 months of inventory based on pending sales.
- The average price per square foot fell nearly 10 percent, from $42 in August to $38 in September.
- The sold-list differential in the Center Township area of Indianapolis Indiana was 93 percent.
- The median price was $29,000.