The Lawrence Township real estate market was like a bad sequel to a mediocre movie in September of 2011. That’s because total sales, which had already fallen nearly 6 percent just one month earlier, fell an additional 7.9 percent in September. Looking on the bright side, however, September’s total of 105 sales represents an 18-percent increase versus where this market was 1 year ago. What’s more, the average number of closings per month from July through September of this year was up 16.5 percent versus this same quarter last year.
Total pending sales, which had also fallen slightly the previous month, fell an additional 14.7 percent, from 102 in August to 87 in September. The most recent total represents a 15.5-percent decrease versus last September’s total of 103. Also, from July through September of this year there were on average 3 percent fewer pending sales in the pipeline per month compared to this same quarter 1 year ago.
There were 905 homes for sale in the Lawrence Township area of the Indianapolis real estate market September, down 3.4 percent versus the previous month’s total o f937. This is also a more substantial 19.2-percent decrease versus last September’s total of 1,120. Further still, there were on average 16.9 percent fewer homes listed on the Lawrence Township real estate market from July through September of this year compared to this same period 1 year ago.
Some other Lawrence Township real estate market stats:
- Homes in this area of Indianapolis Indiana spent an average of 107 days on the market, up 12.6 percent versus the previous month’s average of 95 days. The 12-month average in Lawrence Township is 98 days.
- The absorption rate based on closed sales was 11.6 percent, while the absorption rate based on pending sales was 9.6 percent.
- There were 8.6 months of inventory based on closed sales and 10.4 months based on pending sales.
- The average ‘sold’ price was $136,000, while the average pending price was $196,000.
- The average price per square foot was $61.
- The median price was $117,000.