The Decatur Township market saw improvement in 3 key stats that matter: Total listings, total sales and total pending sales. Starting with total sales, there some improvement as the number of homes sold climbed 9.8 percent, from 41 in July to 45 in August. More impressive was the fact that this represents a 25-percent improvement versus 1 year ago. As well, the average number of closings that took place per month from June through August rose 2.5 percent compared to this same period 1 year ago.
The most recent figures for Decatur Township pending sales were somewhat mixed. “Mixed” because on the one hand, pending sales rose 11.4 percent versus the previous month’s total of 35; but on the other hand, they were down 17 percent compared to last August’s total of 47. In a quarterly analysis the average number of pending sales on a per-month basis fell 9.3 percent during the months of June through August of 2011 relative to this same quarter 1 year ago, when the monthly average was 43 pending sales.
One area of improvement that cannot be overstated is that of total listings. Let’s face it, the market doesn’t need more inventory at this point; which is why it’s good the total number of Decatur Township homes for sale fell 6.1 percent in August versus the previous month’s total of 264. Versus where the Decatur Township market was exactly 1 year ago this is a 3.9-percent improvement. Viewed quarterly, there were, on average, a total of 256 homes listed for sale per month on the Decatur Township real estate market compared to this same quarter in 2010, when the monthly average was closer to 263.
Some other Decatur Township real estate market facts:
- The sold-list differential in Decatur Township remained unchanged at 96 percent versus the previous month, and just 1 percent above the 12-month average, which is 95 percent.
- Of the 248 homes listed for sale in this area of Indianapolis Indiana 58 were new listings. This figure is down nearly 21 percent versus last August’s total of 73. The 12-month average is 59 new listings per month.
- The absorption rate based on closed sales was 18.1 percent, while the absorption rate based on pending sales was 15.7 percent.
- The median price was $85,000.