The Lawrence Township real estate market wasn’t exactly as picture of health in August of 2011. Let’s start with one of the few stats that can remotely be called “positive”: Total sales. There were 7.5 percent fewer homes sold in August compared to the previous month, or 111 versus 120 respectively. What’s good about this is the fact that, relative to 1 year ago, it represents an 18.1-percent increase in total sales. Also, the average number of homes sold per month from June through August of this year remained unchanged from that of this same quarter 1 year ago.
In other disappointing news, the total number of pending sales fell 8.8 percent, form 102 in July to 93 in August. Compared to last August’s total of 106 pending sales this is a 12.3-percent worsening. Even in a quarterly analysis this stat is still negative, as the average number of pending sales added to the pipeline on a per-month basis from June through August of this year fell 6.5 percent relative to this same quarter in 2010.
If there was one sure bright spot it had to do with the fact that the total number of Lawrence Township homes for sale fell 3.6 percent versus the previous month’s total of 937. Even more, compared to last August’s total of 1,132 this represents a healthy 17.2-percent decrease in total inventory. In a quarterly view, was an average of 965 homes listed for sale per month from June through August of this year compared to this same quarter in 2010, giving the Lawrence Township real estate market 14.1 percent fewer overall.
Other Lawrence Township Real Estate Stats:
- Homes in this area of Indianapolis Indiana spent an average of 94 days on the market, or 16 percent fewer versus the previous month’s average of 112 days. This is only a slight improvement versus the 12-month average time on market of 96 days.
- The absorption rate based on closed sales was 11.8 percent, while the absorption rate based on pending sales was 9.9 percent.
- There were 8.4 months of inventory based on closed sales and 10.1 months of inventory based on pending sales.
- The sold-list differential was unchanged from the previous month’s average of 95 percent, and only 1 percent improved versus the 12-month average of 94 percent.
- The median price was $118,000.