There was mixed news for the Greenwood real estate market in November, 2011. First the good news: Total pending sales climbed 23.5 percent, from 51 the previous month to 63 in November. As you might guess, pending sales is one of the best indicators of future sales in the near-term. What’s more, November’s figure represents an 8.6-percent improvement compared to last year’s total of 58 during this same month. The only downside was that the average number of pending sales per month from September through November of this year was down 4.7 percent compared to this same period 1 year ago.
And now for the not-so-good news: Total sales fell by a significant 30.7-percent, from 75 in October to 52 in November. Compared to last November’s total of 68 sales this is a 23.5-percent drop. However, there was a 4.2-percent increase in the average number of closings that took place per month from September through November of this year compared to this same period 1 year ago.
Whereas there was a 4.1-percent decrease in the amount of real estate for sale in Indianapolis from October through November the Greenwood real estate market experienced an even greater 6.6 –percent decrease, as there were just 577 homes for sale compared to the previous month’s total of617. Compared to last November’s total of 657 listings this represents a 12.2-percent decrease. Further still, there were on average 3.4 percent fewer homes for sale per month in Greenwood Indiana from September through November of this year compared to this same period 1 year ago, when the monthly average was 708 listings.
Some other Greenwood real estate market stats:
- Homes in Greenwood sold for an average of 84 percent of their original list price in November, and an average of 95 percent their final list price. The 12-month average sold-list differential based on original list price is 90 percent, while the 12-month average sold-list differential based on final list price is 95 percent.
- The average price per square foot fell a bit, from $70 in October to $63 in November. The 12-month average is $67.
- The average time on market rose 1.8 percent, from 109 days in October to 111 days in November.
- The absorption rate based on closed sales was 9.0 percent, while the absorption rate based on closed sales was 10.9 percent.
- The median price was $132,000.