The Martinsville real estate market made some positive strides in August of 2011, not the least of which was in the category of total sales. A total of 35 closings took place in August, a 34.6-percent improvement, versus the previous month’s total of 26. But compared to last August’s total of 24 this represents an even more impressive improvement of 45.8 percent. Taking the more recent 3-month period from June through August of this year, there were on average, 10.3 percent more homes sold per month that in this same period 1 year ago, or 32 versus 29 respectively.
But our figure for total sales wasn’t the only stat to improve. Total Martinsville pending sales rose 3.4 percent, from 29 to 30 over this same period. The only hitch, is that compared to last August’s total of 32 this represents a 6.2-percent decrease. But looking at the average 32 pending sales per month that belonged to the most recent quarter from June through August of this year a 23.1-percent improvement can be seen versus this same quarter in 2010.
There were 1.1 percent fewer sellers in the market in August, as the total number of Martinsville homes for sale fell to 282, down from the previous month’s total of 285. Compared to last August’s total of 300 this is a 6-percent improvement in the supply-demand ratio. From June through August of this year there was also a 7.6-percent improvement in this same category as there were, on average, a total of 281 homes listed on the Martinsville real estate market relative to this same time last year.
Other Martinsville real estate market stats:
- The absorption rate based on closed sales rose 3.3 percent versus the previous month, while the absorption rate based on pending sales climbed 4/10ths of 1 percent over this same period.
- There were 8.1 months of inventory based on closed sales and 9.4 months of inventory based on pending sales.
- The average active price rose slightly, from $219,000 in July to $221,000 in August. This is 6.25 percent above the 12-month average active price of $208,000. The average ‘sold’ price over this same period fell 8.5 percent, from $141,000 to just $129,000.
- Sellers reaped an average $65 price per square foot.
- The median price in Martinsville Indiana was $107,000.