The Greenwood real estate market may have slowed down in September, 2012 in comparison to the previous month, but versus this same time 1 year ago, several unmistakable improvements were seen. Starting with our leading indicator of total sales, there were 109 closings in September, 27.3 percent fewer, compared to 150 closings in August. But compared September of 2011 the most recent total represents a 12.4-percent increase overall. And, from August through September of this year, an average of 132 closings took place each month, 25.7 percent more, compared to this same 3-month period 1 year ago.
Pending sales was another area of improvement, at least in comparison to last year. While September’s total of just 76 pending sales does represent a 29-percent decrease versus the previous month’s total of 107, versus 12 months ago, it is an improvement of 10.1 percent. And from August through September of this year there were on average 9.9 percent more pending sales per month versus this same quarter last year.
It wasn’t a huge improvement, at least not compared to the previous month; but September’s total of 529 represents a 3.1-percent decrease in total listings. Compared to this same month 1 year ago, listings in Greenwood were down nearly 18 percent. This is a healthy development considering the market doesn’t exactly suffer from a scarcity of inventory. Moreover, from August through September of this year there were, on average, 19.7 percent fewer homes on the market versus this same quarter 1 year ago.
Some other Greenwood market stats:
- Of the 529 homes listed for sale in September, 107 were new listings. This represents a 31.4-percent decrease versus the previous month’s total of 156, and a far lesser decrease of 3.6 percent versus last September’s total of 111. The 12-month average number of new listings is 133 per month.
- Buyers paid an average of $69 per square foot. This is 4.2 percent below the previous month, and 2.8 percent last September’s average of $71. The 12-month average price per square foot in Greenwood is $71.
- There were 4.9 months of inventory based on closed sales and 7 months of inventory based on pending sales.
- The absorption rate was 20.6 percent based on closed sales and 14.4 percent based on pending sales
- The average ‘sold’ price of $156,000 was down 12.4 percent versus the previous month’s average of $178,000, and down just 1.3 percent versus 1 year ago. The 12-month average ‘sold’ price in Greenwood is $159,000.
- The average active price of $206,000 was unchanged versus August, and down just 1.4 percent versus a year ago. The 12-month average active price is also $206,000.
- As of September, homes in Greenwood were averaging 81 days on market. This is a 13.8-percent improvement versus August, 2012, and just an even greater 26.4-percent improvement versus September, 2011. Over the past 12 months homes in this suburb of Indy have averaged no fewer than 70 and now greater 114 days on market. The 12-month average time on market in Greenwood is 96 days.
- The sold-list differential based on original asking price was 88 percent. This is down by just 1 percent versus last September. The sold-list difference based on final asking price was 96 percent. This is unchanged versus a year ago. The 12-month average is also 96 percent.