While not every stat looked pretty in October, the Greenfield real estate market showed significant improvements in at least key indicators: Pending sales and listings. October’s total of 41 pending sales, while unchanged versus the previous month’s total of 41, was nevertheless 28.1 percent improved versus last year’s total of just 32 during this same month. And, from September through October of this year, there were 41 pending sales in the pipeline, or 5.1 percent more, compared to this same period last year.
October marked the third consecutive month that the number of homes for sale in Greenfield fell. Total listings also improved by 5.7 percent, falling from 300 in September to 283 in October. Compared to last October’s total of 310 listings this is an 8.7-percent decrease. And from September through October of this year there were on average 295 homes on the market each month relative to same quarter 1 year ago, which equates to a decrease of 8.4-percent. One more stat that concerns listings: Of the 283 homes listed for sale in October, 59 were new listings. This is up 13.5 percent versus the previous month’s total of 52, and up 11.3 percent versus last October’s total of 53. The 12-month average number of new listings placed on the market each month in Greenfield is 60.
The 41 closings that took place in October represent a 10.8-percent increase versus the previous month’s total of 37. However, compared to October of 2011’s total of 44 this is actually a 6.8-percent decrease. And, from September through October of this year, there were 4.4 percent fewer closings each month compared to this same 3-month period in 2011.
Some other pertinent Greenfield real estate market stats:
- Greenfield homes spent an average of 109 days on the market as of October. This is barely changed versus the previous month’s average of 110 days, although compared to October of 2011 it represents a worsening of nearly 27 percent, at least for anyone trying to sell a home. Over the past 12-months, homes in Greenfield have averaged no fewer than 59, and no more than 117, days on the market. The 12-month average time on market is 103 days.
- There were 6.9 months of inventory based on both closed and pending sales. The 12-month averages for both these stats are 7.5 and 7.4 percent respectively.
- The absorption rate was 14.5 percent based on closed sales and 14.5 percent based on pending sales. Over the past 12 months, the absorption rate in Greenfield has risen as high as 17.2 percent based on closed sales.
- The average price per square foot was $60. This is 6.3 percent lower versus the previous month’s average of $64, and 11.8 percent below last October’s average of $68. The 12-month average price per square foot is $60.
- The average active price was $172,000. This is down 1.7 percent versus last October’s average of $175,000. The 12-month average active price is $176,000.
- The average ‘sold’ price was $120,000. Versus the previous month’s average of $131,000 this represents an 8.4-percent decrease. Versus last October’s average of $152,000 it is a much greater 21.1-percent decrease. The 12-month average ‘sold’ price is $119,000.
- The sold-list differential based on original asking price was 83 percent. Clearly, sellers have had to adjust to this buyer’s market a bit more in Greenfield compared to other nearby Central Indiana towns and cities. Based on final asking price, the sold-list difference was 93 percent.
- The median price in Greenfield was $111,000.