After rising to a 3-month high of 44 in June of this year the total number of pending sales in Decatur Township fell 31.8 percent in July. What’s more, the most recent total of 30 represents a 25-percent decrease versus last July’s total of 40. However, in a quarterly comparison the average number of pending sales per month climbed a slight 2.7-percent compared to this same period 1 year ago, when the average was 37.
At least there was some good news as total sales rose 8.3 percent, from 36 in June to 39 in July. This total was also unchanged from that of last July. From May through July of this year there were, on average, 30 closings per month versus an average of 43 per month during this same 3-month period 1 year ago, making it a 9.3-percent decrease.
In other news, the total number of Decatur Township homes for sale increased 2.7 percent, from 257 in June to 264 in July. However, compared to last July’s total of 267 this is a decrease of 1.1 percent. Also, from May through July of this year, the Decatur Township real estate market saw a 3 percent decrease in the average number of homes listed for sale per month, or 2587 versus 266 respectively.
Some other Decatur Township real estate market stats:
- Homes in this area of Indianapolis, Indiana spent an average of 62 days on market, down significantly from the previous month’s average of 95 days. Not only this, but compared to last July’s average of 89 days this is a 30-percent decrease. The 12-month average time on market in Decatur Township is 81 days.
- The average ‘sold’ price rose slightly, from $82,000 in June to $85,000 in July. During this same period the average active price fell slightly, from $102,000 to $101,000.
- The absorption rate based on closed sales was 14.8 percent, while the absorption rate based on pending sales was 11.4 percent.
- There were 6.8 months of inventory based on closed sales and 8.8 months of inventory based on pending sales.
- The median price in this area of Indianapolis Indiana was $80,000. This, by the way, also matches the 12-month average for this statistic.