The good news, from a seller’s standpoint, is that the decline in the total number of homes for sale in Warren township over the past 6 months has for the most part kept pace with the decline in the total number of homes sold. The total number of homes sold in January of 2010 was just 79, down approximately 14 percent from December’s total of 92. The total number of homes for sale was 834, which was almost 12 percent of the toal 6,959 homes for sale in Indianapolis.
The decline in the total number of pended sales has also been consistent with these figures, with just 78 pending transactions in January compared to the previous month’s total of 86.
The average ‘sold’ price of just $62,000 represents a new 6-month low, as does the median price of $57,000. Overall, Warren township sellers received an average of 94 percent of their asking prices. The flip side to these statistics is that buyers have benefited tremendously as the average cost-per-square-foot dropped to a 6-month low of just $36.
After all was said and done the average home spent over three months (94 days exactly) for sale on the Warren township real estate market. This ties a 6-month high that was set in November of 2009.
There were 10.6 months’ worth of inventory based on closed sales and 10.7 months’ worth of inventory based on pended sales. These figures are a subset of the Indianapolis, Indiana real estate market.