The Martinsville real estate market experienced a decrease of 2.8 percent in the number of homes listed for sale. Indeed, fewer listings was the norm across many towns and cities in central Indiana, including the Indianapolis real estate market, which lost 3.2 percent of its total listings. Versus last September’s total of 279 this is a decrease of 1.8 percent. Also, there was an average of 5.4 percent fewer Martinsville listings on a per-month basis from July through September of this year relative to this same period 1 year ago.
Signs of fall could definitely be seen in the latest sales figures. Martinsville recorded 11.4 percent fewer sales in September compared to the previous month. September’s total of 31 closings, however, does represent a significant 34.8-percent increase versus where the market was 1 year ago, during this same month. Plus, there were 29.2 percent more homes sold per month, on average, from July through September of this year relative to this same period last year.
At -3.2 percent, at least the change in total Martinsville pending sales wasn’t as pronounced as that of other nearby markets. The good news, however, is that most recent total of 30 pending sales is actually 36.4 percent above last September’s total of 22. What’s more, there were 15.4 percent more transactions in the pipeline per month, from July through September of this year, compared to this same quarter 1 year ago.
Some other pertinent Martinsville real estate market stats:
- Homes in Martinsville Indiana spent an average of 85 days on market, down 25.4 percent compared to the previous month’s average of 114 days. This marks the second consecutive month that this average has fallen since reaching a 3-month high of 140 days in July. The 12-month average time on market is 111 days.
- The sold-list differential was 94 percent in September. This was down only 1 percent from both the previous month and 12-month average, both of which are 95 percent.
- There were 8.8 months of inventory based on closed sales and 9.1 months based on pending sales.
- The absorption rate based on closed sales was 11.3 percent, while the absorption rate based on pending sales was 10.9 percent.
- The average price per square foot was $65.