The Lawrence Township market continued on a downward sales trajectory that began last month, as there were just 81 closings in October, or 25.7 percent fewer, compared to 109 in September. Even compared to last October’s total of 90 this is a 10-percent decrease. One positive stat to come out of this is the fact that there were on average 12.1 percent more homes sold on a per-month basis from August through October of this year compared to this same period 1 year ago, when the average was just 91 closings.
While the drop in pending sales was not as steep as that of total closings, there was nevertheless an 11.6-percent drop in this statistical category. Versus last October’s total of 93 Lawrence Township pending sales fell 9.7 percent. What’s more, from August through October of this year there were on average 5.9 percent fewer pending sales per month versus this same period last year.
With fewer homes sold and fewer pending sales in the pipeline it’s a good thing that more homes weren’t placed on the market. It was quite the contrary, in fact, as there was a 3.6-percent drop in the number of Lawrence Township homes for sale, from 905 in September to 872 in October. Further still, this represents a 17.4-percent drop in the number of listings available Lawrence Township’s portion of the Indianapolis real estate market compared to last October’s total of 1,056. From August through October of this year there were on average 905 listings on the market in Indianapolis Indiana, or 18 percent fewer, compared to this same quarter in 2010 when the per-month average was 1,103 listings.
Some other noteworthy Lawrence Township real estate market stats:
- There were 164 new listings placed on the market in October. This represents a, 18.8-percent share of the 872 total Lawrence Township listings.
- Homes in the area spent an average of 106 days on the market, up 37.7 percent versus last October’s average of 77 days on market. The 12-month average in this township is 100 days.
- There were 10.8 months of inventory based on closed sales and 10.4 months of inventory based on pending sales.
- The average sale came in at 83 percent of the original list price, while the average sold-list differential based on the final list price was 93 percent.
- The median price was $109,000.