While there was no increase from February’s total of 55 homes sold, at least things remained steady in March and, more importantly, didn’t reverse course since rising from a 15-month low of just 48 sales in January, 2010. Still, the total number of homes sold in March was down 23.6 percent compared to last year this same time.
On the brighter side, there was a pronounced, 32-percent increase in the total number of pending sales; something that offsets the lackluster sales figures for March. Pending sales were also up 80 percent compared to the 15-month low of 55 that occurred in December of 2009.
The number of Perry Township homes for sale continued to rise from a 15-month low of just 506 listings in December, 2009 to 610 in March. This is not far from the 15-month high of 617 listings that occurred in July of 2009.
At 16.2 percent the absorption rate of homes based on pended sales has been on the rise since a 15-month low of 10.9 that occurred in – you guessed it – December of 2009. The absorption rate of homes based on closed sales dropped a bit, going from 9.6 percent in February to 9.0 in March. But as already mentioned, the increase in pending sales more than offsets this particular stat.
Homes for sale on the Perry Township real estate market spent an average of 94 days on market—an 11.9 increase over the previous month’s average of 84 days. While the past 12 months have seen figures as low as 52 days and as high as 101 days, the 12-month average is right at 77 days.
The sold-list differential for homes in the Perry Township area of Indianapolis was 95 percent of list. This was down just 1 percent from the 12-month average of 96 percent. A 15-month low of 92 percent occurred in January of 2009.