The good news for last month was that there was a 21-percent increase in the total number of homes sold, with 118 titles changing hands in March compared to 97 the previous month. The no-as-good news is that this is a 7.8-percent slump compared to the 128 homes that sold 12 months ago in March of 2009. There was an increase of 2.2 percent in the total number of pended sales compared to the previous month while there was a 7.6 decrease when compared to March of 2009. The number of Center Township homes for sale dropped a bit – 1.3 percent to be exact — from last month’s total of 1,412, tallying in at 1,393 listings. Not only is this a decrease from the previous month but it is also a 9.8-percent decrease from the 1,545 homes for sale on the Center Township real estate market in March of 2009.
Having received around 97 percent of list price in February of this year, sellers in March were brought back down to earth as the sold-list differential came in at 91 percent. While the sold-list differential over the past 15 months has been as low as 90 percent (April, 2009) and as high as 98 percent (December, 2009) it was right at 91 percent a year ago in March of 2009.
One thing’s for sure: Buyers in Center Township area of Indianapolis benefited from a very reasonable per-square-foot cost of just $35. This is a 30-percent decrease compared to the $50 that buyers paid the previous month and a modest 6-percent increase over last March’s average cost per-square-foot of $33.
The average active price was $150,000 in March compared to $147,000 in January and $148,000 in March of ’09; increases of 2 and 1.4 percent respectively.
The absorption rate based on closed sales was 8.5 percent—up 1.6 percent from the previous month.