The number of Mooresville listings peaked at 183 in April of 2011. Since then, there has been a steady downward trend in the number of homes listed for sale in Mooresville. Most recently, the Mooresville real estate market saw a 1.2-percent decrease in total listings, from 170 in August to 168 in September, 2011. While this is less than half the decrease in listings that the Indianapolis real estate market recorded it is nevertheless a good thing for anyone trying to sell a home, since it represents less competition in a market that already has too many homes. At this point, any reduction in inventory is a good thing for the market. September’s total of 168 listings represents an even greater 11.6-percent decrease in listings versus 1 year ago during this same month. What’s more, there were 11 percent fewer homes on the market per month from July through September of this year relative to this same quarter 1 year ago, or 170 versus 191 respectively.
A slow-down could be seen in the number of Mooresville pending sales, as there were just 18 in September compared to 20 just one month prior, making for a 10-percent decrease on the month. But this stat looks even worse when compared to last September’s total of 22; in this 1-year comparison it is a decrease of 18.2 percent. From July through September of this year there were, on average, 19 pending sales in the Mooresville real estate pipeline, or 9.5 percent fewer, compared to this same quarter in 2010.
But what Mooresville lacked in pending sales it more than made-up for in total closed sales. There were 21 closings in September, or 31.3 percent more, compared to just 16 the previous month. Even compared to September of 2010 this represents a 23.5-percent increase. Also, from July through September of this year there were on average 16.7 percent more closings taking place on a per-month basis relative to this same quarter last year.
Some other Mooresville real estate market stats:
- Homes in Mooresville Indiana spent an average of 85 days on the market, making for a nice 25.4-percent improvement versus the previous month’s average of 114 days. Average time on market has not been one of the strong points for the Mooresville market, from a statistical standpoint. Over the past 12 months, the average time on market has been 111 days.
- Of the 168 Mooresville homes listed for sale 55 were new listings.
- The absorption rate based on closed sales was 11.3 percent, while the absorption rate based on pending sales was 10.9 percent.
- There were 8.8 months of inventory based on closed sales and 9.1 months based on pending sales.