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Mooresville Real Estate Report

While the time spent on market for homes in Mooresville, Indiana reached a 15-month high in January, at 138 days, the situation was dramatically improved in February as homes spent an average of just 63 days on market.  This is also a 28-percent decrease over the 12-month average of 87.8 days spent on market.

Not only was February’s average ‘sold’ price of $109,000 a 27.8-percent drop from February’s average of $151,000 it was also a a 15-month low.  The average ‘sold’ price of homes a year ago, February, was $145,000.

Although the total number of homes sold in February, at 16, remained unchanged from the previous month it was up a bit from last February’s total of just 13.  The total number of pending sales dropped from 15 in January to 13 in February.  The total number Mooresville homes for sale ticked up just one notch to 145.  February of 2009 marked the lowest total number of homes for sale over the past 15-months.

At 95 percent , the sold-list differential remained unchanged not only from last month but the 12-month average as well.  Buyers paid an average of $55 per square foot compared to $69 the previous month. This is a decrease of roughly 20 percent from January and a 22.5 decrease over the 12-month average of $71 per square foot.

At $190,000 the average active list price remained unchanged from January, although it was down a bit from the 12-month average of $192,400.  The average active price in February of 2009 was $209,000.

Overall, what seemed to define the Mooresville real estate market most for the month of February was how little it changed from the previous month.