There were some positive developments in the Westfield real estate market in January, 2012. While a total of just 24 closings took place in January versus the previous month’s total of 25, the most recent total represents a very optimistic increase of 33.3 percent in total sales. This is an encouraging stat considering the month of January is historically one of the slowest months in Central Indiana for real estate. The 26 closings that took place per month, on average, from November of 2011 through January of this year represents no change versus the average for this same quarter 1 year ago.
A significant, 21.7-percent improvement was seen as there were 28 pending sales in the January pipeline compared to the previous month’s total of 23. While this represents a decrease of 3.4 percent when compared to last January’s total of 29 it helps to realize that this is a difference of just 1. The average number of monthly pending sales from November through January, 2012 rose 13 percent versus this same 3-month period 1 year ago.
One positive development came in the form of a 3.8 percent decrease in the number of homes for sale in Westfield versus the previous month, or 205 versus 213 respectively. Further still, January’s total of 205 listings represents far greater 16.3-percent decrease compared to last year’s total of 245 during this same month. To put this in context, the neighboring Indianapolis real estate market lost 2.4 percent of its listings versus the previous month. There were, on average, 16.5 percent fewer homes listed on the market in Westfield Indiana from November of 2011 through January of this year compared to this same quarter 1 year ago.
Some Other Noteworthy Westfield Real Estate Market Statistics:
- The average time on market improved as homes in Westfield spent an average of 107 days on the market in January compared to the previous month’s average of 122 days. While this represents a welcomed 12.3-percent improvement, at least as any seller is concerned, it is nothing compared to the improvement versus last January’s average of 144 days. The 12-month average time on market in Westfield is 99 days.
- The average active price was $269,000, or 15.9 percent above last January’s average of $232,000. The 12-month average active price in Westfield is $256,000.
- January’s average ‘sold’ price of $177,000 represents a 24-percent decrease compared to last January’s average of $233,000.