Washington Township Real Estate Report

For the second consecutive month the total number of homes sold in Washington Township rose as there were 100 homes sold in February compared to 88 the previous month.  This is also up significantly from February of last year when there were just 87 total sales. The number of pending sales also rose significantly, going from 97 in January to 125 in February.  There were 97 pending sales in February, 2009.  There were 1,068 homes for sale in Washington Township compared to 1,025 last month and 1,128 in February, 2009—probably a good thing for a Washington Township real estate market that hasn’t exactly suffered from a an shortage of inventory over the past year.

Homes for sale in this subset of the Indianapolis, Indiana real estate market spent an average of 113 days on market compared to 119 this same time last year.  The average time spent on market over the past 12 months is  87.1 days.  The sold-list differential dropped slightly to 93 percent compared to the previous month’s total of 95 percent.  This is up just one percent from February of 2009 and down just slightly from the 12-month average of  94.3 percent.

Buyers paid $74 per square foot, or slightly over 23 percent more, compared to $60 in February.  The cost per square foot in February of 2009 was $72.

At $189,000, the average ‘sold’ price jumped fairly significantly compared to the previous month’s average of $141,000. This is a 34-percent increase versus last month and a  13.8-percent increase compared to February of last year when the average ‘sold’ price was $166,000.

Of course, these figures represent only a subset of the collective statistics for the Indianapolis, Indiana real estate market.  If the past is any indicator, we should continue to see increased activity with the onset of spring.