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March Home Sales Jump a Hefty 30.2 Percent in Warren Township

The big news for the Warren Township real estate market last month was that home sales jumped a hefty 30.2-percent, with 82 sales in March versus 63 in January. But just as “every rose has its thorn”, home sales were down in almost equal measure, at -31.1%, compared to last year this same time when 119 homes sold.  But this statistical theme doesn’t end here.  The number of pending sales also jumped 11.7 percent compared to the previous month—good news except for the fact that this is still a 26.8-percent decrease versus last year this same time when there were 157 pending sales.

There were 869 Warren Township homes for sale in March compared to 815 in January, or an increase of 6.6 percent.  This represents a 1-percent decrease compared to a year ago and a 10.7-percent decrease compared to 15 months ago in January of 2009.

In a sign that buyers and sellers perhaps weren’t seeing eye-to-eye homes spent an average of 101 days on market in March versus 77 days the previous month. While this is not great news it could be worse, and in fact, was worse in March of 2009 when homes spent a 15-month high average of 107 days on market. Over the past 15 months homes in Warren Township area of Indianapolis have never spent fewer than 69 days on market.

The sold-list differential was down 5 percent, at 91 percent, compared to 96 percent in February. And while was down 2 percent compared to March of 2009 it was up ever so slightly from the 15-month low of 90 percent that occurred 15 months ago in January of 2009.

At $39 per square foot buyers paid $3 more than they did in February and $1 more than they did last March.  Over the past 15 months buyers have never paid more than $45 or less than $32 per square foot.