While there was a decrease of 3.2 percent in the total number of homes sold in Center Township compared to the previous month, there was a significant 15.9-percent increase in the total number of pending sales, with 124 on the books in February compared to 107 in January. There were 1,412 homes for sale in Center Township in February compared to 1,406 the previous month. This is a decrease of over 10 percent compared to the 1,563 homes that were listed for sale in February of 2009. Also, the ratio of homes sold to homes for sale has dropped slightly from last year, going from 1:15.0 in February of 2009 to 1:15.5 February, 2010—at least the Center Township real estate market has not lost its balance.
Center township homes spent an average of 96 days on market in February compared to 94 in January and 106 in February of 2009. While this is a 2-percent increase over the previous month it represents a significant improvement over last year this same time.
The good news for sellers was that, for the second time in 12 months, homes sold for an average of 98 percent of list. This is a significant improvement over the 92 percent sold-list of February, 2009.
There as a sharp increase of 106 percent in the average ‘sold’ price, with homes selling for an average of $95,000 in February compared to just $46,000 in January. The average ‘sold’ price in February of 2009 was just $42,000 while the 12-month average was $65,700.
Also up sharply was the average of $52 per square foot that buyers paid for homes located in the Center Township area of Indianapolis, Indiana compared to $26 the previous month.