The Greenfield real estate market was part of a trend that could be seen in many nearby central Indiana markets toward fewer listings. In September, there were 315 Greenfield homes for sale, down 7.6 percent versus the previous month’s total of 341. In comparison, the Indianapolis real estate market experienced a 3.2-percent decrease in total listings. Compared to 1 year ago in September this is a 10.3-percent decrease. From July through September of this year there were 4.5 percent fewer listings on a per-month basis compared to this same quarter last year, or 336 versus 352 respectively.
While fewer homes on the market is probably a good thing, fewer homes sold is most definitely not. There were 20 percent fewer homes sold in September compared to the previous month’s total of 50. To put a positive spin on this, September’s 40 sales represent a 25-percent increase compared to 1 year ago. What’s more, from July through September of this year, there were, on average, 48 homes sold per month, or 54.8-percent more, relative to this same period in 2010.
If there’s one stat that is almost always a good indicator of things to come in the near future it is that of total pending sales. Fortunately for Greenfield, there was a 14.3-percent increase in total pending sales compared to the previous month’s total of 42. When this is compared to last September’s total of 39 it becomes a 23.1-percent increase. Looking at the period from July through September of this year, there were 50 percent more listings per month with a “pending” status compared to this same quarter last year, or 48 versus 32 respectively.
Some other Greenfield market stats:
- Homes in Greenfield Indiana spent an average of 99 days on the market, down nearly 5 percent versus the previous month’s average of 104 days. The 12-month average time on market in Greenfield is 96 days.
- There were 47 new listings put on the market in September, down 24.2 percent compared to the previous month’s total of 62, and also a far cry from the 15-month high total of 87 in July of this year.
- The absorption rate based on closed sales was 6.6 percent, while the absorption rate based on pending sales was 15.2 percent.
- There were 7.9 months of inventory based on closed sales and 6.6 months based on pending sales.
- The average price per square foot was $54.