Of the three metrics shown in the above chart, the greatest increase was in the number of homes sold In Franklin Township, with 45 homes selling in February compared to just 38 the previous month for an increase of 18.4 percent. Compared February of 2009, however, this figure was down approximately 19.6 percent. In second place was the 11.5-percent increase in the total number of pending sales, with 58 pending sales in February compared to 52 in January. Compared to February of 2009 this same metric was down 14.7 percent. In third place was the 2.5-percent increase in the total number homes for sale in Franklin Township, with 486 listings in February compared to 474 the previous month. This is a 2-percent increase over last year’s total of 476 listings.
But there was good news for sellers in the fact that the average time spent on market was down nearly 28 percent from the previous month at just 65 days. This is also a 16.63-percent decrease from last year’s average of 78 days. The average time spent by homes on the Franklin Township real estate market over the most recent 12-month period was also nearly 78 days. The sold-list differential checked in at a very respectable 97 percent, up 4 percent from January.
While the average cost per square foot of $54 was down nearly 7 percent from last month’s average of $58 it was virtually unchanged from last February’s average of $55 per square foot. This same average over the most recent 12-month period was $60.14
The average ‘sold’ price for homes in this area of Indianapolis, Indiana was $120,000—again, virtually from last February’s average of $119,000 and down just 2.4 percent from the most recent 12-month average of $123,000.