The latest statistical figures for the Pike Township real estate market offered a double-edged sword. On the one hand, both closed and pending sales were down versus the previous month. When compared to September of 2010’s figures, however, it was evident that the market was ahead of where it was last year. Take total sales, for example: While the 61 closings that took place in September were 28.2 percent below the previous month’s total of 85, they were actually 5.2 percent above last September’s figure of just 58. Also, a real improvement could be seen in the fact that there were on average 78 closings per month–30 percent more–from July through September of this year compared to this same quarter 1 year ago, when the per-month average was 60 closings per month.
Total pending sales followed a similar pattern. September’s total of 70 represents a decrease of 20.5 percent versus the previous month’s total of 88, but compared to last September it is an increase of 20.7 percent. Further still, there were on average 76 pending sales per month from July through September of this year—26.7 percent more–compared to this same quarter in 2010.
There were 1.1 percent fewer homes for sale in the Pike Township area of the Indianapolis real estate market in September compared to the previous month’s total of 656. What’s more, the Pike Township real estate market saw a 2.6-percent drop in total listings compared to last September’s total of 666. Finally, from July through September of this year there were on average 660 homes for sale per month in this area of Indianapolis Indiana–0.2 percent fewer—compared to this same quarter 1 year ago.
Some other Pike Township real estate market stats:
- If sellers were unhappy about their homes spending an average of 101 days on the market in August of this year, then they were even unhappier about the average 122 days on market in September. Over the past 12 months, homes in this area of Indianapolis have never averaged fewer than 82 days on market. The 12-month average is 101 days.
- The average ‘sold’ price was $122,000, while the average active price was $146,000.
- There were 10.6 months of inventory based on closed sales and 9.3 months of inventory based on pending sales.
- The absorption rate was 9.4 percent based on closed sales and 10.8 percent based on pending sales.
- The median price was $105,000.