At least the New Year brought some good news for the Greenwood real estate market as the total average days spent on the market dropped to a 6-month low of just 73 days. The not-so-silver lining is that there was a bit more ‘give’ than ‘take’ on the part of home sellers as the average list-sale differential reached a 6-month low of just 94-percent.
Homes were selling albeit not as much as in months past. The total number of homes sold dropped to just 50-units in January, 2010. This too marks a new 6-month low. If you’re starting to see a pattern here you’re not alone. Winter, at least in most Northern parts of the country, has historically been a down time in the real estate market.
The total number of Greenwood homes for sale, which had been on a downward trend since September of 2009, abruptly reversed course, rising from just 589 listings in December to 626 listings in January. On the upside was the number of pending sales which rose from 53 in December to 59 in January.
Greenwood, Indiana has had a solid economic foundation that includes the Greenwood Park Mall as well as several manufacturing facilities which provide jobs to thousands. As long as this foundation remains solid there’s no reason to believe that the real estate market won’t pick up the pace as usual with the arrival of warmer weather.