Center Township Real Estate Report

The good news for anyone looking to buy a home in January of 2010 was that the average per-square-foot cost for homes for sale in Center township reached a 6-month low of just $26 per square foot.  This represents an approximate 42-percent decrease from December’s cost of $45 per square foot.

The average time spent on market was just a little over 3 months.  This is down just 4 days from December’s total of 99 days spent on market.  The average active price of a home for sale on the Center township real estate market remained steady at $142,000.

The total number of homes listed for sale in January of 2010 increased barely, going from 1,405 in December to 1,406 in January of 2010.  This is 20 percent of the total 6,959 homes for sale in Indianapolis.

And as expected for this time of year the total number of homes sold in Center township dropped fairly significantly from last month’s total of 137 to a meager 90 homes.  The total number of pending transactions also dropped, although not as much, to 90.

There was 15.6 months’ worth of inventory based on closed sales.  There was 13.9 months’ worth of inventory based on pending sales. The market absorption rate based on closed sales was approximately 6.4 percent. These figures are a subset of the total Indianapolis real estate market.