While the Washington Township real estate market suffered losses in both closed and pending sales versus the previous month, when compared to September of 2010 things were actually looking up. Starting with sales, there were 7.4 percent fewer closings in September versus the previous month’s total of 162. Compared to September of 2010, however, the most recent total of 150 closings represents an increase of 4.2 percent. From July through September of this year there were on average 162 homes sold per month, or 26.6 percent more, compared to this same quarter last year.
In the category of pending sales there was a 10.7-percent decrease as just 125 pending sales could be found in the September pipeline compared to the previous month’s total of 140. Compared to last September’s total of 113, however, this is a 10.6-percent increase. In another 1-year comparison, there were on average 145 pending sales per month from July through September of this year compared to this same 3-month period 1 year ago, when the per-month average was 131 pending sales.
Another positive development for the Washington Township real estate market was the fact that there were 3.4 percent fewer homes on the market. September’s total of 1,121 listings in this geographical area of the Indianapolis real estate market represents a 12 percent reduction versus the 1,274 homes that were listed in September, 2010. Moreover, this area of Indianapolis Indiana saw a 13.2-percent decrease in the average number of homes listed per month during the months of July through September of this year compared to this same 3-month period in 2010.
Some other noteworthy Washington Township real estate market statistics
- Homes in Washington Township spent an average of 104 days on the market in September compared to an average of 78 days in August. The 12-month average is 94 days.
- The absorption rate based on closed sales was 13.4 percent, while the absorption rate based on pending sales was 11.2 percent.
- There were 7.5 months of inventory based on closed sales and 9 months’ worth based on pending sales.
- The average ‘sold’ price was $244,000 and the average active price was $227,000.
- The median price was $172,000.