“Spotty” might be a good word to describe the Zionsville real estate market in September, 2012. For while some statistically significant improvements were seen, the market regressed more than a little bit when it came to other key indicators. But considering this is the time of year the Zionsville market typically slows down, none of this is especially remarkable. Take total sales as an example: September’s total of 36 closings represents a 35.7-percent decrease versus the previous month’s total of 56. But compared to a year ago, this actually translates into a net increase of nearly 6 percent in total sales. Also, from August through September of this year there was an increase of 16.7 percent in the average monthly sales volume versus this same quarter 1 year ago.
Pending sales did not fare as well as our previous stat. The most recent total of 24 pending transactions represents a precipitous 52-percent decrease versus previous month’s total of 50. And compared to last September’s total of 28, it is a decrease of 14.3 percent. Coincidentally, like our previous stat, there was a 16.7-percent increase average number of pending sales from August through September of this year relative to this same period 1 year ago.
One important stat to watch is that of total listings. With the market heading into its perennial fall slump, it’s a good thing that the number of homes for sale in Zionsville fell by 5.4 percent versus the previous month’s total of 257. Moreover, September’s total of 243 listings represents a 22.9-percent decrease compared to this same month 1 year ago. And, from August through September of this year there were, on average, 258 homes on the market each month, or 18.4 percent more, compared to this same time last year.
Some other Zionsville real estate market stats worth noting:
- Zionsville homes spent an average of 85 days on market in September, up by 4 days versus the previous month’s average of 81 days. Versus last September’s average of 102 days this is a 16.7-percent improvement. It is also a significant improvement versus the 12-month average time on market in Zionsville is 98 days.
- The absorption rate was 14.8 percent based on closed sales and 9.9 percent based on pending sales.
- The average active price was $575,000, which is nearly 3 percent above last September’s average of $559,000. The 12-month average active price is $552,000.
- The average ‘sold price of $340,000 was 7.1 percent below the previous month’s average of $366,000, and 2.3 percent below last September’s average of $348,000. The 12-month average ‘sold’ price in Zionsville is $350,000.
- Buyers paid an average of $93 per square foot for Zionsville real estate. This is 8.1 percent above the previous month’s average of $86, and 2.2 percent above last September’s average of $91 per square foot. The 12-month average price per square foot I Zionsville is $91.
- Sellers realized an average of 89 percent of original asking price, and an average of 96 percent of final asking price. One year ago these two figures averaged 91 and 94 percent respectively. The 12-month averages are 89 and 95 percent respectively.
- There were 6.8 months of inventory based on closed sales and 10.1 months of inventory based on pending sales.
- The median price was $308,000.
- Of the 243 homes listed for sale in September, 39 were new listings. This is down 35 percent versus the previous month, and down 31.6 percent versus last year during this same month. The 12-month average is 58 new listings per month.