You could tell that folks in Danville had begun to shift their attention away from real estate and towards the holidays as this was most evident in the most recent numbers for November. Total pending sales fell 33.3 percent, from 21 in October to just 14 in November. The good news, however, is the fact that this is still a big improvement versus where the Danville market was 1 year ago, a 63.6-percent improvement to be exact. In another comparison there were, on average, 50 percent more homes sold each month from September through November of this year compared to this same quarter 1 year ago.
Total pending sales followed a similar pattern as November’s total of just 14 translates to a 33.3-percent drop versus the previous month. But, like our previous stat, when compared to this same month 1 year ago this is actually a huge 55.6-percent improvement in total pending sales. Even more impressive is the fact that there were on average 72.7 percent more pending sales in the pipeline each month from September through November of this year compared to this same quarter last year.
While the Indianapolis real estate market saw a 4.1 percent drop in total listings the difference in Danville Indiana was even greater as there were 5.8 percent fewer homes on the market in November compared to the previous month, or 113 versus 120 respectively. Compared to last November this is a more attenuated 2.6-percent decrease. Also, from September through November of this year there were on average 1.6 percent fewer homes (120) on the Danville real estate market compared to this same period 1 year ago, when the per-month average was 122 listings.
Some other Danville Real Estate Market Stats:
- Versus the Danville 12-month average of 91 days homes spent an average of 89 days on the market in November. This is a significant improvement versus last November’s average of 138 days.
- Homes in Danville sold for an average of 84 percent of the original list price, while the sold-list differential based on final list price was an even 95 percent.
- The average ‘sold’ price was $122,000 while the average active price was $200,000.
- The absorption rate was 15.9 based on closed sales and 12.4 based on pending sales.
- There were 6.3 months of inventory based on closed sales and 8.1 months based on pending sales.