Unlike several other townships in Indianapolis, Indiana, this February in Wayne Township saw decreases in both the total number of homes sold total number of pending sales. There were 15.6 percent fewer homes sold in February (65) compared to the previous month (77). This is down 25.3 percent on the year and approximately 35 percent over the past 15 months. There were 85 pending sales on the books for February compared to 84 the previous month and 97 last February. While this is a 1.2-percent increase over last month it is a 12.4-decrease on the year. With 845 homes for sale in Wayne Township in February compared to 851 in January there were .7 percent fewer listings. T his is also a drop of 4 percent on the year. In the context of the overall Wayne Township real estate market, any decrease in the number of homes for sale is a good thing since it counterbalances decreases in the number of homes sold.
The good news for sellers was that homes spent nearly 10 percent less time on the market, with homes selling in an average of 74 days in February compared to 82 days in January. This is also a striking 26 decrease over last February’s average of 100 days on market.
A Few Other Pertinent Stats for Wayne Township:
- At 94 percent, the average list-sold differential remained unchanged from the previous month and up 2 percent from last February.
- In what was good news for cost-conscious buyers, the average cost per square foot of $32 paid In February nearly matched the 12-month low of $31 that was set in March of 2009.
The average active price was $83,000—a 1-percent increase over both the previous month and February of 2009.
There were 13 months of inventory based on closed sales and 9.9 months based on pending sales.