The Franklin Township real estate market was for the most part a flop in September, 2011. Starting with total sales, there were just 60 closings in September, or 21.1 percent fewer, compared to the previous month’s total of 76. Compared to last September’s total of 71 this is a 15.5-percent decrease. However, from July through September of this year there were, on average, 69 closings per month, or 19 percent more, versus this same 3-month period in 2010.
Total Franklin Township pending sales also fell by 2.9 percent, from 68 to 66. Versus last September’s total of 71 pending sales this is a 7-percent drop. From July through September of this year there were on average 69 pending sales, or 4.2 percent fewer relative to this same quarter 1 year ago.
In the Franklin Township area of the Indianapolis real estate market, the number of homes for sale fell 3.5 percent, from 520 in August to 502 in September. Compared to 1 year ago, when there were 497 homes listed for sale in September, this is a 1-percetn increase in total listings. The Franklin Township real estate market underwent a 2.9-percent drop in the average number of homes listed for sale per month from July through September of this year compared to this same quarter last year.
Some other noteworthy Franklin Township real estate market stats:
- There were 8.4 months of inventory in September based on closed sales and 7.6 months of inventory based on pending sales.
- The absorption rate based on closed sales was 12 percent, while the absorption rate based on pending sales was 13.1 percent.
- Of the 502 homes listed for sale in the Franklin Township area of Indianapolis Indiana 99 came in the form of new listings. This is a 23.2-percent drop versus the previous month’s total of 129. The 12-month average number of new listings per month is 117.
- The average price per square foot was $60.
- The average sold-list differential was 96 percent.
- The average ‘sold’ price was $133,000, while the average active price was $166,000.
- The median price was $124,000.