You had to look a little harder to find the bright spots in the Washington Township real estate market in October, 2011. Take total sales, for example: There were 116 homes sold in October, or 26.6 percent fewer, compared to the previous month’s total of 158. But this seemingly negative stat suddenly doesn’t look so bad in comparison to last October’s total of just 107 sales. In fact, it represents an 8.4-percent improvement. Also, there were on average 18.7 percent more closings taking place each month from August through October of this year compared to this same period 1 year ago. So, in both 1-years comparisons, the market is actually ahead of where it was 1 year ago, and that can’t be a bad thing.
As concerned total pending sales, however, the picture wasn’t nearly as neat, as there were 6.2-percent fewer pending sales in October versus the previous month’s total of 128. Even compared to last October’s total the market was down 4.8 percent in the pending sales department. At least there was a 0.8-percent improvement in the average number of pending sales per month from August through October of this year compared to this same period 1 year ago.
In the Washington Township area of the Indianapolis real estate market there were 4 percent fewer homes for sale in October versus the previous month’s total of 1,121. The most recent total of 1,076 Washington Township homes for sale represents a 12.9-percent decrease versus this same month 1 year ago. From August through October there were 12.5 percent fewer listings in this area of Indianapolis Indiana compared to this same 3-month interval in 2010.
Some other Washington Township market stats:
- Of the 1,076 homes for sale in Washington Township 233 were new listings. This is only slightly below last October’s total of 238 but slightly below the 12-month average of 245 new listings per month.
- The absorption rate based on closed sales was 10.8 percent, while the absorption rate based on pending sales was 11.2 percent.
- Homes in Washington Township sold for an average of 78 percent of their original list price. In fact, this is the lowest average for this stat in the past 15 months. The average sold-list differential based on the final list price was better at 94 percent.
- The average ‘sold’ price was $183,000, while the average active price was $221,000.
- The median price was $137,000.