There was good news for sellers in Decatur Township as the total number of homes sold was up 37.5 percent from January’s total of 16, with 22 homes selling in February, 2010. Twenty-five homes sold last year this same time. Also up significantly was the total number of pending sales, with 35 on the books for February versus 27 the previous month—an increase of 29.6 percent. The number of pending sales is up 9.4 percent compared to February of 2009. Meanwhile, the total number of homes for sale in Decatur Township dipped slightly from 2387 in January to 235 in February. While this is only a slight decrease from the previous month it is nearly a 12 percent increase over last year this same time.
The average time spent on market by homes in this particular area of Indianapolis, Indiana was just 74 days compared to 81 in January. Even better news for sellers is that this represents a huge decrease of over 24 percent from last February’s average of 98 days on market.
While the average of $48 per square foot paid by buyers for Decatur Township real estate was up $3 compared to the previous month it was pretty much in line with the 12-month average of $48.9 per square foot.
The average ‘sold’ price of $79,000 up just ever so slightly from last month’s total average of $78,000; although this is down a bit compared to the 12-month average of $82,300.
The average active price of $117,000 was up just one percent from the previous month and unchanged from February of 2009.
Overall, it seems the Decatur Township real estate market may be poised to heat up with the onset of warmer weather.