There were several reasons to be optimistic about the direction of the Greenfield real estate market in February, 2012. While total sales fell 14.7 percent, from 34 in January to 29 in February, this is nevertheless a hefty 45-percent improvement versus last February’s total of just 20 sales. Also, from December of 2011 through February of this year there were, on average, 31 closings per month, or 40.9-percent more, compared to this same quarter 1 year ago, when the average was just 22 closings per month.
While total pending sales rose just 2.6 percent, from 39 in January to 40 in February, this is a 25-percent improvement compared to last February’s total of just 32. Plus, there were on average a total of 34 transactions per month with a “pending” status from December of 2011 through February of this year, or 30.8 percent more, compared to this same quarter last year.
The Greenfield real estate market saw a 0.4-percent decrease in total listings in February compared to the previous month’s total of 260. In comparison, there was a 1.5 percent decrease in real estate and homes for sale in Indianapolis during this same period. Versus where the Greenfield market was 1 year ago, with 320 listings at that time, the most recent figure of 261 represents a nice 18.4-percent drop in total listings. Finally, Greenfield Indiana saw an average of 16.4 percent fewer homes listed for sale on a monthly basis from December of 2011 through February of this year compared to this same period 1 year ago.
Some other Greenfield real estate market stats worth taking a look at:
- The sold-list differential based on original list price in February was just 83 percent. This is down 6 percent versus last February’s average of 89 percent. However, the sold-list differential based on final asking price was at 95 percent, which is 2 percent above the previous month’s average of 93 percent as well as last February’s average, which was also 93 percent. The 12-month average for both these stats are 86 and 95 percent respectively.
- The absorption rate based on closed sales was 11.1 percent, while the absorption rate based on pending sales was 15.3 percent.
- There were 9 months of inventory based on closed sales and 6.5 months based on pending sales.
- The median price was $95,000.
View other Greenfield Real Estate Market Reports here.