As one would expect, the total number of months’ worth of inventory based on pending transactions decreased from a 6-month high of 10.6 in December to 8.8 in January as the total number of pended sales jumped from 51 to 54 in this same time period. But this wasn’t the only number that grew; from December to January the total number of homes for sale in Franklin township climbed to 474 total listings. This represents 6.8 percent of the total 6,959 homes for sale in Indianapolis. Meanwhile, the total number of homes sold continued its steady decline, dropping to just 36 in January.
The holiday season combined with an unusually snowy winter may have zapped buyers of a little of their home-shopping enthusiasm as the total number of days spent for sale on the Franklin township real estate market climbed from 71 in December to 91 in January. Not surprisingly, this lack of enthusiasm was reflected in the average list-sale differential, with sellers receiving just 93 percent of their asking prices. At least the average cost per square foot didn’t drop. It remained unchanged at $57 per square foot.
The average ‘sold’ price checked in at $113,000 while the median price was $105,000. The average active price dropped a bit, going from its December total of $184,000 to $182,000 in January, 2010. These figures for Franklin township are a subset of the Indianapolis real estate market.