The Wayne Township real estate made some small strides in September, just not enough. There were 103 homes sold in September, or 9.6 percent fewer, compared to the previous month’s total of 94. But then it is autumn after all, and it might be a little unrealistic to expect an increase in home-buying activity. The thing about the most recent total of 103 sales, though, is the fact that it represents a 17-percent increase versus where the Wayne Township market was in September of 2010. Also, from July through September of this year there were on average 95 closings per month, or 10.5 percent more, compared to this same quarter in 2010.
Where the cooling-off could really be seen was in the statistical category of pending sales. In September there were 18.5 percent fewer pending sales in the pipeline compared to the previous month’s total of 108. Not only this, but compared to last September’s total of 97 this is a decrease of 9.3 percent. In another type of 1-year comparison we compared the average number of pending sales per month during the months of July through September of this year to this same period 1 year ago, and found there were 6.2 percent fewer in the most recent quarter compared to last year.
One good thing: The total number of homes listed in this area of the Indianapolis real estate market fell 5.8 percent compared to the previous month’s total of 741. And versus last September’s total of 852 this represents an 18.1-percent reduction in the number of homes listed for sale on the Wayne Township real estate market. Finally, from July through September of this year there were on average 728 homes for sale in this area of Indianapolis Indiana, or 19.4 percent fewer, versus this same quarter 1 year ago.
Some other noteworthy Wayne Township market stats:
- Wayne Township homes spent an average of 94 days on the market in September, up 8 percent versus the previous month’s average of 87 days. The 12-month average time on market in Wayne Township is 91 days.
- The absorption rate based on closed sales was 14.8 percent, while the absorption rate based on pending sales was 12.6 percent.
- The average, ‘sold’ price was $63,000 and the average active price was $85,000.
- The median price was $50,000.