There has been an overall trend toward decreasing inventory over the past 15 months in Zionsville, and the month of October, 2012 proved to be no exception. Since hitting a summer peak of 274 listings, the number of homes on the Zionsville market fell for the third consecutive month, reaching a total of just 238 listings in October, down 2.1 percent versus the previous month’s total of 243. Compared to where the market was 1 year ago, this is a much greater 19.6-percent drop in total listings. Also, from August through October of this year there were, on average, just 246 homes on the market per month, or 20.4 percent fewer, compared to this same quarter last year.
A total of 38 closings took place in October. While this is unchanged versus the previous month, it is 65.2 percent above October’s of 2011’s total of just 23. Also, an average of 44 closings took place each month from August through October of this year, or 22.2 percent more, compared to this same period 1 year ago.
October’s total of 33 pending sales represents a 13.8-percent increase over the previous month’s total of 29. However, compared to this same month 1 year ago, it is an 8.3-percent decrease. In another comparison, the average number of pending sales was up nearly 12 percent from August through October of this year relative to this same quarter in 2011.
Some other Zionsville real estate stats:
- Of the 238 homes on the market in October, 50 were new listings. This is up 31.6 percent versus the previous month’s total of 38, and up 4.2 percent versus last October’s total of 48. Over the past 12 months, on average, a total of 58 new listings have made there was to the market each month in Zionsville.
- There were 6.3 months of inventory based on closed sales and 7.2 months of inventory based on pending sales.
- The average sold-list differential based on original asking price was 90 percent. This is unchanged versus the September average. Even compared to last October’s average of 91 percent it is down just 1 percent. The average sold-list difference based on final asking price was 97 percent. This is somewhat improved versus last October’s average of 94 percent. The 12-month averages for both these stats are 89 and 95 percent respectively.
- Homes in Zionsville spent an average of 82 days on the market as of October. This is up only slightly versus the previous month, but it is down 16.3 percent relative to last October’s average of 98 days. Over the past 12 months homes in Zionsville have averaged as few as 78, and as many as 120, days on market. The 12-month average time on market is 96 days.
- The absorption rate was 16 percent based on closed sales and 13.9 percent based on pending sales.
- The average active price was $547,000. This is down nearly 5 percent versus the previous month’s average of $575,000. Versus last October’s average of $550,000, however, it is an ever-so-slight decrease of just ½ percent. The 12-month average active price in Zionsville is $552,000.
- The average ‘sold’ price was $332,000. This is down 7.8 percent versus last October’s average of $360,000. The 12-month average ‘sold’ price is $348,000.
- The median price was $330,000.