The Zionsville real estate market improved in some ways, and regressed in others. But mostly, there were few surprises considering this is the time of year that the market typically slows down. December’s total of 31 closings remained unchanged from the previous month’s total. However, compared to last December’s total of 28 sales this represents a 10.7-percent increase. Also, from October through December of this year an average of 28 closings took place per month, or 3.7 percent fewer, compared to this same period 1 year ago.
One stat that resisted all attempts at sugar-coating was that of total pending sales. Anyway you looked at it there were fewer pending sales, which doesn’t exactly inspire optimism for the near future of the Zionsville market. December’s total of 15 pending sales represents a 50-percent decrease. Compared to December of 2010’s total of 20 this is a 25-percent decrease.
While the total number of Zionsville homes for sale fell 5.4 percent in December, compared to 1 year ago there were 4.8 percent more homes on the market in Zionsville Indiana. In way of comparison, there were 8.4 fewer homes for sale in Indianapolis Indiana.
Some other pertinent Zionsville Indiana real estate market statistics:
- There were 9.1 months of inventory based on closed sales and 18.8 months of inventory based on pending sales.
- The absorption rate based on closed sales was 11 percent, while the absorption rate based on pending sales was 5.3 percent.
- Homes in Zionsville spent an average of 121 days on the market. This is 12 percent worse that last December’s average of 108 days on market. It is also nearly 20 percent worse than the 12-month average of 101 days.
- The average ‘sold’ price was $318,000, while the average active price was $528,000.