Like many other townships in Indianapolis, Indiana the month of February saw increases in both the number of homes sold and the total number of pending sales. There was a 70-percent increase in the total number of homes sold, with 87 homes selling in February compared to 51 the previous month. While this is down almost 10 percent compared to February of 2009 it is still indicative of a Lawrence Township real estate market that has begun its ascension from the depths of winter. There were 914 homes for sale in Lawrence Township compared to 894 the previous month and 900 last February. Greater contrast can be seen in the total number of pending transactions, with 118 in February compared to 91 the previous month and 92 in February of 2009. This represents increases of 29.6 and 28.2 percent respectively.
At 98 days, the average time spent on market was down 13 percent from the 12-month high of 113 days that was set in May, 2009. However, this is still an increase of 11.3 percent compared to the 88 days that homes spent on market in February of 2009.
Over the past 12 months the sold-list differential has never strayed far from 95 percent for Lawrence Township real estate and February of 2010 was no different as homes sold for 95 percent of list. This is a 2-percent increase over February of 2009 when homes sold for 93 percent of list.
The cost per square foot in Lawrence Township was down roughly 5 percent, with buyers paying an average of $56 per square foot in February compared to $59 the previous month. Buyers paid an average of $48, or 16 percent less, in February of 2009.