The Westfield real estate market saw a 12.9-percent decrease in sales as just 27 closings took place in November compared to the previous month’s total of 31. But then this comes as no surprise considering it was ‘that time of year’, with the holidays looming large on the horizon. The Westfield market remained unchanged versus last November’s total of 27. However, a 14.8-percent improvement could be seen in the average number of closings that took place per month from September through November of this year compared to this same period 1 year ago.
But perhaps the best indicator of things to come could be seen in the 16.1-percent drop that occurred in total pending sales, as there were just 26 in the pipeline in November compared to the previous month’s total of 31. But hold that thought, because versus last November’s total of 19 this is a very pleasant 36.8-percent increase in total pending sales. Moreover, if we look at the average number of pending sales recorded on a monthly basis from September through November of this year we see that there was an 8-percent increase compared to this same period in 2010.
Whereas there was 4.1 percent less real estate and homes for sale in Indianapolis in November compared to the previous month the Westfield real estate market saw a slight 0.9-percent increase in the total number of homes listed for sale. But hold on, because compared to this same time last year in Westfield Indiana this represents a 16.1-percent decrease in total listings. So overall, there has been a lot of improvement in this statistical department compared to 2010.
Some other pertinent Westfield market stats:
- Buyers benefited from a 10.8-percent decrease in the average Westfield price per square foot, from $83 in October to just $74 in November. The 12-month average is $76.
- The average ‘sold’ price fell 11.3 percent, from $247,000 in October to $219,000 in November. The 12-month average ‘sold’ price in Westfield is $218,000.
- The average active price rose just 1.8 percent, from $268,000 to $273,000. The 12-month average is $250,000.
- The absorption rate based on closed sales was 11.5 percent, while the absorption rate based on pending sales was 11.1 percent.
- The median price in Westfield was $227,000.