While there were some bright spots in the Perry Township real estate market in August, there was still a lot of room left for improvement. First the bad news: Total sales fell 2.3 percent, from 88 in July to 86 in August. And now for the silver lining: This represents a 30-3-percent improvement versus were the Perry Township market was 1 year ago. Furthermore, there was a significant 18.4-percent improvement seen in the average number of closings that took place per month from June through August of 2011 compared to this same quarter in 2010.
But what the Perry Township real estate market lacked in closed sales it made up for in total pending sales, as 13 pending transactions were added to a sales pipeline that already tallied 76, making for a nice 17.1-percent gain versus the previous month. The only downside to this is the fact that, compared to last August’s total of 107 pending sales this is a 16.8-percent decrease. From June through August of this year there were, on average, 85 pending sales in the pipeline on a per-month basis from June through August of this year compared to last year during this same quarter, when the average was 82 pending sales.
Another bright spot for the Perry Township real estate market had to do with the fact that, compared to the previous month’s total of 646 listings, August was down 1.1 percent in this category. Versus last August’s total of 691 total listings were down 7.5 percent. Also, there were 5.3 percent fewer Perry Township homes for sale per month from June through August of 2011 compared to this same period 1 year ago.
A few other real estate stats for the Perry Township market:
- Homes in this area of Indianapolis Indiana spent an average of 91 days on the market, up slightly from the previous month’s average of 87 days. This is also slightly above the 12-month average of 87 days.
- Of the 639 homes for sale in Perry Township 164 were new listings. While this is down 6.3 percent versus last August’s total of 175 it is up 17.1 percent versus the 12-month average of 140 new listings.
- Buyers paid an average of $54 per square foot compared to the previous month’s average of $58. The 12-month average is also $54 per square foot.
- The absorption rate based on closed sales was 13.5 percent, while the absorption rate based on pending sales was 13.9 percent.
- The median price was $103,000.