Talk about a rough winter. To characterize the decline in the total number of homes sold between January of 2010 and November of 2009 as ‘precipitous’ might be a bit charitable; the expression “nose dive” might be more appropriate. That’s because January’s total number of homes sold was nearly 70 percent down from the 6-month high of 45 that occurred in November. At least this negative statistic was offset by an increase in the total number of pending transactions, with 27 on the books for January, 2010 compared to 21 in December. There were 238 homes for sale in Decatur township, or 3.4 percent of the total 6959 homes for sale in Indianapolis.
Overall, homes spent an average of 78 days for sale on the Decatur township real estate market; up 5 days from December’s total of 73. But a bit of compromise on the part of home sellers was required to achieve even these numbers as the average list-sold differential reached a 6-month low, falling to just 93 percent of the list price.
The average final sale price for a home in Decatur township was $77,000 while the median price was $67,000. The average active price was $117,000. Buyers benefited from an average cost-per-square-foot price that reached a 6-month low of just $43. In January of 2010 there were approximately 17 months’ worth of inventory based on closed sales. These figures represent a subset of the collective figures for the Indianapolis real estate market.