The Mooresville real estate market showed some positive signs even as it entered what has historically been one of the slowest times of the year for home sales. But first the bad news: Total home sales fell 8.3 percent versus the previous month. Even worse, the most recent figure of just 11 sales represents a 26.7-percent drop versus last January’s total of 15. Also, the average number of homes sold per month from November of 2011 through January of this year fell 13.3 percent versus last year’s average of 15 during this same period.
The good news? There was an increase of 7.1 percent in total pending sales versus the previous month. Even better is the fat that, compared to last January’s total of just 12 pending sales this represents a very healthy increase of 25 percent. There was also a 7.7-percent increase in the average number of pending transactions per month from November 0f 2011 through January of this year versus this same period 1 year ago.
There were 2.6 percent more homes for sale in Mooresville in January compared to the previous month. But January’s total of 157 listings is down 7.1 percent compared to this same month 1 year ago. Plus, the average number of homes listed for sale per month in Mooresville Indiana fell 4.8 percent relative to this same quarter last year. As a basis of comparison, there were 2.4 percent fewer homes for sale in Indianapolis versus the previous month, and 17 percent fewer versus January of 2011.
Other Mooresville Real Estate Market Statistics:
- Mooresville homes spent an agonizing 163 days on the market on average in January. This represents a huge increase of nearly 70 percent versus the previous month’s average of 96 days. Compared to last January’s average of 103 days it is a 58.2-percent increase. It is also nearly 47 percent above the 12-month Mooresville average of 111 days. Oh, and it beats the previous 15-month high of 143 days (June, 2011) by nearly 14 percent.
- January’s average price per square foot of $82 was up 6.5 percent compared to the previous month’s average of $77 and up a substantial 46.4 percent versus last January’s average of just $56. The 12-month average price per square foot in Mooresville is $70.
- There were 14.3 months of inventory based on closed sales and 10.5 months of inventory based on pending sales.
- The absorption rate was 7 percent based on closed sales and 9.6 percent based on closed sales.