The Center Township real estate market, some improvement aside, was nothing to write home about. The biggest and most meaningful improvement came in the form of an 18-percent increase in total sales, from 100 in July to 118 in August, 2011. Even in a longer-term view, comparing this figure to where we were 1 year ago, this represents a 28.3-percent improvement. The only negative stat to come out of this is the fact that there were, on average, 2.6 percent fewer closings taking place on a per-month basis (113) from June through August of this year compared to 1 year ago, when the monthly average during this same quarter was 116.
If only something positive could be said about the latest Center Township pending sales figures. But alas, total pending sales fell 17.9 percent, from 106 in July to just 87 in August. Even compared to last year’ total of 103 during this same month this represents a 15.5-percent worsening. And things looked no better in a quarterly analysis, as there were, on average, 14 percent fewer pending sales in the monthly pipeline from June through August of 2011 compared to this same 3-month period in 2010.
But while there were fewer sales entering the pipeline, there were an addition 23 homes placed on the market in August, making for a 2-percent increase in total listings. But there is an upside to this stat: Namely, the 1,157 Center Township homes for sale in August of this year represents a significant 19.5-percent reduction compared to this same month 1 year ago, when there were 1,437 homes listed on the Center Township real estate market. Further still, there was an average of 1,159 homes listed for sale per month during the quarter that spanned June through August of this year compared to a monthly average of 1,454 listings during this same quarter in 2010, or 20.3 percent fewer.
Some other Center Township real estate market stats:
- Homes in the Center Township area of Indianapolis Indiana spent an average of 102 days on the market in August, or 11 percent more time versus the previous month’s average of 92 days. Not only is this up nearly 28 percent versus last August’s average of 80 days it is up 6.2 percent versus the 12-month average of 96 days on market.
- The absorption rate based on closed sales was 10.2 percent, while the absorption rate based on pending sales was 7.5 percent.
- The average active price was $142,000.
- The average ‘sold’ price was $76,000.
- The median price was $27,000.