The Washington Township market improved from a year ago but numbers are down from the previous month of October. Sales were down 1.7% from the previous month but are up 18% from this same time last year. The percentages look dramatic, but in actual numbers, we only had 2 fewer sales this month compared to October (1.7%) and 18 more sales than the previous year. The average sales price has been relatively unchanged and was $199K for November.
The number of Pended properties took a big step down in November, a decrease of 39.4% from the previous month. The number of Pendings for each of the previous 8 months had been well into the 100’s, but fell to 86 in November. Closings in December and January may suffer due to this but as the graph indicates, we were only at 80 Pendings at this same time last year indicating a seasonal trend.
If we look at the Indianapolis real estate market the number of homes for sale dropped for the 4th straight month to 1,011. In November 2010, that number was 1,156, a 12.5% decrease in inventory for Washington Township homes for sale. This could be an opportune time to put your home on the market. With home values stabilizing and the number of home sellers decreasing, you have less competition for that active pool of buyers. Sales in Indianapolis, Indiana are up from a year ago, and inventory is down.