The annual slow-down in the central Indiana real estate market that occurs each year in the fall months could be seen in Plainfield. Indeed, the Plainfield real estate market exemplified this as there were 6.1 percent fewer homes sold in October of 2011 compared to the previous month’s total of 33. But this nevertheless represents a 29.2-percent increase in total sales compared to this same month last year. Even more impressive is the fact that there were 45.5-percent more homes sold per month from August through October of this year compared to this same period 1 year ago.
Total Plainfield pending sales fell 16.7 percent, from 30 in September to 25 in October. But like out previous stat, this actually represents an improvement in comparison to last October’s total of just 19. From August through October of this year there was also improvement as the average number of pending sales per month was up 20 percent relative to this same 3-month period 1 year ago.
Another positive development was a 2.5-percent decrease in the total number of Plainfield homes for sale in October compared to the previous month’s total of 199. In comparison, there were 4.9 percent fewer Indianapolis homes for sale during this same period. Compared to last October’s total of 200 the Plainfield market had 3 percent fewer listings to offer most recently.
Some other Plainfield real estate market stats:
- Homes in Plainfield Indiana spent an average of just 64 days on the market, a 36.6-percent drop, compared to the previous month’s average of 101 days. The 12-month average in Plainfield is 93 days.
- The absorption rate based on closed sales was 16 percent, while the absorption rate based on pending sales was 12.9 percent.
- There were 6.3 months of inventory based on closed sales and 7.8 months based on pending sales.
- The average sold-list differential was 96 percent, while the average differential versus the original list price was 92 percent.
- The average active price was $173,000, while the average ‘sold’ price was $160,000.
- The median price was $150,000.