The Plainfield real estate market took some hits in November as the holiday season loomed. Total closings fell 45.2 percent, from 31 in October to just 17 in November. But to anyone familiar with the central Indiana market this is not a new phenomenon. Even in the best of times the cold weather months are always the worst in terms of sales. What’s good about the most recent figure of 17 closings, however, is that it represents a 41.7-percent improvement versus where the Plainfield market was in November of 2010m and that’s nothing to sniff at. Also, from September through November of 2011 an average of 27 closings took place per month, which represents 42.1-percent improvement compared to this same quarter 1 year ago.
But in the statistical category of pending sales the picture was not as bright, as there were only 17 pending sales in the November pipeline, a 41.1-percent drop versus the previous month’s total of 29. Compared to last November’s total of 20 this is a 15-percent drop. One bright spot was the fact that there were on average 19 percent more pending sales per month from September through October of this year compared to this same quarter last year.
Ask any seller or real estate agent in Plainfield Indiana and they’ll probably tell you that Plainfield doesn’t need more homes for sale. One area of definite improvement came in the form of fewer homes listed on the Plainfield real estate market; 9.8 percent fewer to be exact. Compared to other nearby markets, like Indy for example, where there was only a 4.1-percent drop in the number of Indianapolis homes for sale this is quite an improvement. Moreover, November’s total of 175 listings represents a 5.9-percent improvement even versus last November’s total of 186.
Some other pertinent stats for the Plainfield Market
- Homes in Plainfield spent an average of 75 days on the market in November, up 17.1 percent versus October’s average of 64 days. This is also a significant 19.4-percent improvement versus the 12-month average in Plainfield of 93 days.
- The absorption rate based on both pending and closed sales was 9.7 percent.
- The average ‘sold’ price was $151,000, while the average active price was $166,000.
- The median price was $125,000.