It was a month that many real estate professionals would rather forget, at least for the Perry Township real estate market in September of 2011. It’s not that there were a few small bright spots. But overall, the direction was downward for several key stats. Total sales, for example, fell 7 percent, from 86 in August to 80 in September. Versus last September’s total of 90 this is an even greater 11.1-percent decrease. One statistical “bright spot” if it can rightly be called that, came from the fact that there were, on average, 19.7 percent more closings taking place on a monthly basis from July through September of this year compared to this same quarter 1 year ago.
And the latest figures for total pending sales offered little reason for optimism, as the most recent total of 87 pending sales represents a 9.4-percent decrease versus the previous month’s total of 96. However, this does represent an improvement when compared to last September’s total of 84 pending sales. But in a quarterly analysis, an average total of 87 pending sales per month during the months of July through September of this year represents a 2.2-percent decrease compared to this same quarter in 2010.
A modicum of relief was felt in Perry Township’s portion of the Indianapolis real estate market as total listings fell 3.4 percent, from 639 in August to 617 in September. Even better, this is an 8.2-percent decrease versus September of 2010, when there were 672 Perry Township listings. Finally, the Perry Township real estate market saw a 7.3-percent drop in the average number of homes listed for sale per month relative to this same quarter last year.
Some other Perry Township real estate market stats:
- Homes in the Perry Township area of Indianapolis Indiana spent an average of 99 days on the market in September compared to an average of 91 just one month prior. The average time on market in this area of Indianapolis is 89 days.
- There were 7.7 months of inventory on the market based on closed sales and 7.1 months based on pending sales.
- The absorption rate based on closed sales was 13 percent, while the absorption rate based on pending sales was 14.1 percent.
- The average ‘sold’ price was $96,000, while the average pending price was $126,000.
- The median price was $93,000.