After rising 16 percent in September, the total number of Martinsville pending sales fell a precipitous 38.9 percent in October, 2011. But this is a decrease of only 4.3 percent when compared to last October’s total of 23 pending sales or, if you will, a difference of just 1 pending sale. But there is some good news in the pending sales department after all: The average number of pending sales per month rose 15.4 percent from August through October of this year versus this same quarter 1 year ago.
The number of homes sold in Martinsville has gone up and down over the past 5 months. Most recently, there was a 9.4-percent drop in the number of homes sold, from 32 in September to 29 in October. However, compared to last October’s total of 28 this is a 3.6-percent increase—not super impressive but an improvement nonetheless. A much brighter stat, as far as stats go, is the fact that there were on average 32 closings per month from August through October of this year, or 28 percent more, in comparison to this same quarter 1 year ago, when the average was 25 closings per month.
One area of improvement came in the form of a 5.1-percent decrease in the number of Martinsville homes for sale, from 274 in September to 260 in October. This slightly exceeds the 4.9-percent decrease in Indianapolis homes for sale during this same period. Compared to last October’s total of 267 this is a 2.6-percent decrease. Also, from August through October of this year there were on average 272 homes on the market per month, or 3.5 percent fewer, compared to this same 3-month interval 1 year ago.
Some other Martinsville real estate market stats:
- Of the 260 homes for sale in October 37 were new listings. This is down only slightly versus last October’s total of 38, but down 27.5 percent versus the 12-month average of 51 new listings per month.
- Homes in Martinsville Indiana spent an average time on market of 101 days. This represents a 17.4-percent worsening compared to the previous month’s average of 86 days. It is, however, an 8.1-percent improvement versus the 12-month average, which is 110 days.
- There were 9 months of inventory based on closed sales and 11.8 months based on pending sales.
- The absorption rate based on closed sales was 11.2 percent, while the absorption rate based on pending sales was 8.5 percent.
- The average active price was $213,000, while the average ‘sold’ price was just $149,000.
- The average sold-list differential was 94 percent.