The Decatur Township real estate market was not exactly buzzing with activity in September, 2011. Total sales fell 27.1 percent, from 48 sales in August to just 35 in September. Compared to last September’s total of 43 sales this is an 18.6-percent drop. However, from July through September of this year there were, on average, 41 closings per month, or 5.1 percent more, compared to the monthly average of 39 for this same period 1 year ago.
Things weren’t much better when it came to pending sales. September’s total of 30 was 26.8 percent below the previous month’s total of 41, but only 6.2 percent below last September’s total of 32. There were, on average, 10 percent fewer pending sales from July through September of this year compared to this same period last year.
In the Decatur Township portion of the Indianapolis real estate market there were 234 homes for sale in September, or 5.6 percent fewer, compared to the previous month’s total of 248. Compared to last September’s total of 243, however, this is a 3.7-percent decrease. Moreover, the Decatur Township real estate market saw, on average, 2.7 percent fewer homes listed for sale from July through September of this year compared to this same period 1 year ago, when the average was 256 listings per month.
Some other Decatur Township real estate market stats
- There were 50 new listings added to the Center Township market in September, down nearly 14 percent versus the previous month’s total of 58. The 12-month average number of new listings is 59.
- The absorption rate based on closed sales was 7.8 percent, while the absorption rate based on pending sales was 12.8 percent.
- There were 6.7 months of inventory based on closed sales, while there were 7.8 months based on pending sales.
- The average price per square foot was $50.
- The average sold-list differential was $97,000.
- The median price for homes in the Decatur Township area of Indianapolis Indiana was $85,000.