The Greenwood real estate market took a few hits in September of 2011 as both closed and pending sales went south. There were 20 percent fewer homes sold in September versus the previous month’s total of 120. September’s total of 96 closings does, however, represent a healthy increase of 15.7 percent when compared to last year’s total of just 83 during this same month. What’s more, from July through September of this year there were, on average, a per-month total of 104 closings, or 33.3 percent more, compared to this same quarter last year, when the average was just 78 closings per month.
Unlike several other nearby central Indiana real estate markets that saw increases in pending sales, the Greenwood market was not so lucky, as total pending sales fell a dramatic 50 percent, from 112 just one month prior to 56 in September. Compared to September of 2010’s total of 73 this is a 23.3-percent decrease. However, if we take the average monthly total of pending sales from July through September of this year compared to this same period 1 year ago, we see that there were 24.7-percent more pending sales in the pipeline on a per-month basis, or 96 versus 77 respectively.
One area of improvement that has been seen throughout many central Indiana real estate markets comes in the form of fewer listings. The total number of Greenwood listings in September fell 6.1 percent, to 643 versus the previous month’s total of 685. This is a slightly better statistical improvement compared to the 3.2-percent drop in listings that the Indianapolis real estate market recorded. Compared to last year during this same month this is a 15.6 percent decrease. Plus, from July through September of this year there were 10.8 percent fewer homes on the Greenwood real estate market per month compared to this same quarter last year, or 676 versus 758 respectively.
A few other Greenwood real estate market stats:
- Homes in Greenwood Indiana spent an average time on market of 112 days in September, up 6.6 percent versus August’s average of 105 days. The 12-month average time on market in Greenwood is 92 days.
- Buyers paid an average price per square foot of $71 in September. This is up just a bit from both last September’s average of $69 and the 12-month average of $68.
- The absorption rate based on closed sales was 14.9 percent, while the absorption rate based on pending sales was 8.7 percent.
- The median price was $135,000.