All around central Indiana a slow-down in the real estate market could be seen. The town of Zionsville Indiana was no exception. Total sales fell 35.3 percent from September’s total of 34. Compared to last October’s total of 23 sales in Zionsville were down 4.3 percent. However, from August through October of this year there were actually 20.7 percent more closings that took place per month compared to this same period 1 year ago.
The news was mixed when it came to pending sales. On the one hand, October’s total of 28 pending sales represents a 3.7-percent increase versus the previous month. On the other hand, it represents a 20-percent decrease versus last October’s total of 35. From August through October of this year there were on average 31 pending sales in the pipeline, or 6.9 percent more, versus this same quarter last year, when the per-month average was 29.
There were 6 percent fewer Zionsville homes for sale in October versus the previous month’s total of 315. In comparison, in the nearest major metro area there were 4.9 percent fewer Indianapolis homes for sale during this same time. Compared to last October’s total of 310 there were 4.5 percent fewer Zionsville listings.
Some additional Zionsville real estate market stats:
- Of the 296 Zionsville homes for sale in October 47 were new listings. This is nearly 12 percent more that last October’s total of 42 albeit 24.2 percent below the 12-month average of 62 new listings per month.
- Homes spent an average of 100 days on the market. Versus last October’s average of 162 this is a good improvement. The 12-month average in Zionsville is also 100 days.
- The absorption rate based on closed sales was 7.4 percent, while absorption rate based on pending sales was 9.5 percent.
- Homes sold for an average of 91 percent of their original list price. The 12-month average in Zionsville is also 91 percent.