The numbers don’t lie. The 2012 Zionsville real estate market took several steps in the right direction versus the previous year. A total of 531 homes were sold in 2012 compared to just 418 one year prior. On average, 44 closings were finalized each month, or 25.7 percent more, compared to just 35 per month for all of 2011. In another comparison, an average of 40 closings took place from October through December of 2012, or 37.9 percent more, versus an average of just 29 per month during this same 3-month period at the end of 2011. In all, there were 113 more homes sold in 2012 than in 2011.
Pending sales also trended in the right direction, as a total of 520 pending sales were reported for all of 2012 compared to a total of 4017 for all of 2011. An average of 43 pending sales were reported each month for all of 2012, or nearly 23 percent more, compared to the 2011 average of 35 per month. Looking at the last quarter of 2012, from October through December of 2012, there were on average 32 pending sales reported each month, or 14.3 percent more, versus an average of just 28 during this same quarter in 2011. In sum, a total of 103 more pending sales were reported during 2012 compared to 2011.
With most real estate markets in Central Indiana and nationwide suffering from an excess of inventory, it was good to see fewer Zionsville homes for sale in 2012. At year’s end a total of 3,038 homes had been put up for sale, 13.9 percent fewer, versus the 2011 total of 3,532. This equates to an average of 253 per month for 2012 compared to 294 per month for 2011. And of the 3,038 homes for sale in 2012, 685 were new listings. This represents an 8.2-percent reduction versus the 2011 total of 746 new listings. In all, there were 494 fewer homes on the Zionsville real estate market in 2012.
Some other noteworthy Zionsville real estate market stats:
- Average time on market has not been one of the strong points of the Zionsville market over the past couple years. Fortunately, this improved in 2012 as homes spent an average of 94 days on market, or 6 percent less time, versus the 2011 average of 100 days on market.
- The average sold-list differential based on original asking price fell by an average of 2 points, from 90 percent in 2011 to 88 percent in 2012. The average sold-list differential based on final asking price, however, remained unchanged at an even 95 percent.
- The average price per square foot climbed 2.2 percent, from $89 in 2011 to $91 in 2012.
- The average ‘sold’ price climbed 3.8 percent, from $341,000 in 2011 to $354,000 in 2012. Meanwhile, the average active price remained unchanged in 2012 versus 2011, at $550,000.
- There absorption rate based on closed sales, averaged over all of 2012, was 18 percent. Based on pending sales it was 17 percent. These represent improvements of 6 and 5 percent respectively.
- On average, there were 6 months of inventory based on both closed and pending sales for all of 2012. The 2011 average for both stats was 6 percent.