While there were some improvements in the Greenfield real estate market in May, 2011 the news was mostly pretty ‘blah’. Starting with total sale, there was an 11.1-percent decrease in the number of homes sold, from 45 in April to just 40 in May. Versus last May’s total of 44 sales this is a barely-lesser decrease of 9.1 percent. On the plus side, however, was the fact that, when compared in quarterly units, there were, on average, 2.5 percent more homes sold per month from March through May of 2011 compared to last year, when the average was 40 sales per month during this same quarter.
In the category of pending transactions, there was a 2.3-percent increase in the number of pending sales, from 43 in April to 44 in May. What’s nice about this figure is that it represents a 29.4-percent increase versus where the Greenfield market was last year in this same statistical category. What’s more, from March through May of 2011 there were 6.7 percent more pending sales on the books per month, on average, compared to this same period last year, or 48 versus 45 respectively.
While there were 1.3 percent more Greenfield homes for sale in May compared to the previous month’s total of 308, May’s figure represents a 6.6 decrease versus last year’s total of 334 during this same month. Even when viewed in 3-month increments, the average number of homes listed on the Greenfield real estate market per month fell 7.8 percent compared to this same quarter last year.
Some other pertinent Greenfield market stats:
- The absorption rate based on closed sales was 12.8 percent, while the absorption rate based on pending sales was 14.1 percent.
- There were 7.8 months of inventory based on closed sales and 7.1 months of inventory based on pending sales.
- The average ‘sold’ price fell 7.1 percent, from $140,000 in April to $130,000 in May.
- The average active price in Greenfield Indiana rose nearly 7 percent over this same period, from $159,000 to $170,000.