While both closings and pending sales were down versus the previous month in Decatur Township the market was up compared to this same time last year. Starting with sales, there was a 5.7-percent decrease in the number of homes sold, from 35 in September to 33 in October. However, compared to last October’s total of 27 this is a 22.2-percent increase. Also, from August through October of this year there were, on average, 11.4 percent more homes sold on a monthly basis compared to this same period last year.
In the pending sales department there were 30 transactions in the pipeline compared to 31 the previous month. But like our previous stat, this is actually an improvement, 36.4 percent to be exact, versus last October’s total of just 22. In a different 1-year comparison, there were on average 35 pending sales per month, or 2.9 percent more, from August through October of this year compared to last year’s average of 34 during this same 3-month period.
Sellers in this area of Indianapolis Indiana benefited from a 2.1-percent drop in the total number of Decatur Township homes for sale in October compared to the previous month. Also, the 229 homes listed in October represent a 1.3-percent decrease versus this same month 1 year ago. Looking at the most recent quarter compared to this same quarter 1 year ago there were on average 237 listings per month in this area of the Indianapolis real estate market, making it a 2.9-percent decrease versus the monthly average of 244 listings 1 year ago.
Some other Decatur Township real estate market stats:
- Much to the dismay of sellers no doubt, homes in this area of Indianapolis sold for an average of 86 percent their original list price. The average sold-list differential itself, looking only at the final list price was 96 percent.
- Homes in Decatur Township spent an average of 113 days on the market in October. Not only is this a 15-month high in this statistical category it is nearly 30-percent worse than the 12-month average of 87 days on market. The average last October was a far more palatable 65 days.
- The average active price was $98,000, while the average ‘sold’ price was $94,000.
- The absorption rate based on closed sales was 14.4 percent, while the absorption rate based on pending sales was 13.1 percent.
- There were 6.9 months of inventory on the market based on closed sales and 7.6 months based on pending sales.