While the Pike Township market took suffered a few setbacks, significant improvement could be seen in comparison to where the market was 1 year ago. Total pending sales, for example, fell 12.7 percent versus the previous month’s total of 71. But compared to last October’s total of 52 the market was up 19.2 percent in this regard. This is not to mention the fact that there were on average 73 pending sales per month from August through October of this year versus this same quarter in 2010.
Total sales also improved in Pike Township as there were a total of 71 sales in October compared to 64 in September. And compared to last October’s total of just 39 sales this represents a huge 82.1-percent improvement on the year. Add to this the fact that there were on average 45.1 percent more homes sold per month from August through October of this year relative to this same period last year and there’s a case to be made that October was a good month.
With 7.2 percent fewer Pike Township homes for sale in October versus the previous month active sellers caught a break. Compared to last October’s total of 650 this is a 7.4-percent decrease in the number of listings on the Indianapolis real estate market. From August through October there were on average 636 fewer listings per month versus this same quarter 1 year ago in Indianapolis Indiana.
A few other stats for the Pike Township market:
- A total of 94 new listings made it to the market in October. This is 22 fewer than the 116 that were added last October. On average, over the past 12 months, 134 new listings have made their way onto the Pike Township market.
- Homes went for an average of 83 percent of their original list price in October, while the average sold-list differential based on final list price was 95 percent.
- The average time on market was 115 days in October, down 4.2 percent versus the 12-month high of 120 days that belonged to the previous month. The 12-month average is 102 days.
- The absorption rate based on closed sales was 11.8 percent, while the absorption rate based on pending sales was 10.3 percent.
- The average active price was $147,000, while the average ‘sold’ price was $98,000.
- The median price was $90,000.