There were few bright spots for the Greenfield market in November, 2011–considering the time of year, this is hardly shocking news. Starting with pending sales, there was a 3.2-percent drop, from 31 in October to 30 in November. As for those “bright spots”, how about the fact that November’s figure represents a 3.4-percenbt improvement versus this same time 1 year ago? Or even better, how about the fact that there were on average 20 percent more pending sales per month from September through November of 2011 compared to this same period 1 year ago?
One subset of the Greenfield market that suffered the most was that of total sales, as there were 43.2 percent fewer closings in November compared to the previous month’s total of 44. At least when compared to last November’s total of 29 this is a lesser 13.8-percent decrease. The only positive angle comes from the fact that there were, on average, 36 closings per month from September through November of this year compared to an average of just 30 per month during this same period 1 year ago, making this year’s figure in this comparison a 20-percent improvement.
Whereas there were 4.1 percent fewer Indianapolis houses for sale in November compared to this previous month the city of Greenfield Indiana experienced a 5.2 percent decrease. Further still, there were 8.4 percent fewer listings on the Greenfield real estate market compared to November of 2010. And from September through November of 2011 there were, on average, 9.5 percent fewer homes for sale per month versus this same quarter 1 year ago.
Some other Greenfield Real Estate Market Stats:
- The average price per square foot fell 19.1 percent, from $8 in October to just $55 in November. While this is unchanged versus last November’s average of $55 it is 11.3 percent below the 12-month average price per square foot of $62.
- The average time on market was 100 days. This is 13.6 percent more time on market compared to last November’s average of 88 days and 3.1 percent above the 12-month average of 97 days.
- The absorption rate based on closed sales was 8.5 percent, while the absorption rate based on pending sales was 10.2 percent.
- The median price was $80,000.