There was no sugar-coating the Plainfield real estate market in January, 2012. Yes, January is historically a slow month for real estate in Central Indiana. But Plainfield lost 58.1 percent of its sales volume in just one month, as a total of just 13 closings took place in January compared to the previous month’s total of 31. At least compared to last January’s total of 18 at this loss is a slightly more palatable 27.8 percent. But this stat was not entirely devoid of positive developments, as the average number of homes sold per month from November of 2011 through January of this year rose 5 percent compared to this same quarter 1 year ago.
While total pending sales offered little reason for encouragement at least the downturn was not as precipitous as that of our previous stat. January’s total of 19 pending sales was down 24 percent compared to the previous month’s total of 25. Compared to last January’s total of 22 this is a more manageable 13.6-percent decrease in pending sales activity. Like our previous stat, there was at least some small improvement observed in the fact that the average number of monthly pending sales from November of 2011 through January of this year was up 5 percent compared to this same period 1 year ago.
Not helping the market was a 12-percent increase in listings, as there were 177 homes for sale in Plainfield in January versus the previous month’s tally of 158. The good news: Compared to last January’s total of 188 this is a 5.9-percent decrease. In comparison, there were 2.4 percent fewer homes for sale in Indianapolis Indiana versus the previous month, and 17 percent fewer homes for sale versus 1 year ago. But the most improvement in this area derived from the fact that there were, on average, 8.1 percent fewer homes listed on the market in Plainfield Indiana from November of 2011 through January of this year compared to this same period 1 year ago.
Some other Plainfield Real Estate Market Statistics:
- Homes spent less time on the market on average in January versus the previous month, or 80 versus 88 days respectively.
- The absorption rate was 7.3 percent based on closed sales and 10.7 percent based on pending sales.
- There were 13.6 months of inventory based on closed sales and 9.3 months of inventory based on pending sales.