Washington Township Real Estate Report – March, 2010

There was a 11-percent jump in the number of Washington Township homes for sale in March, with 1,186 listings compared to 1,068 the previous month.  This also represents a 3-percent increase over the 1,151 homes for sale in Washington Township in March of 2009. There was a 10.8-percent increase in the total number of pended sales, with 164 in March compared to 148 the previous month.  This is a 5.8-percent increase over the 155 sales that were pending back in March, 2009. In what appears to be a sign of spring, the Washington Township real estate market took a turn for the better with 164 homes sold compared to 148 in February—an increase of 7.6 percent. Compared to March of 2009, however, home sales were down 0.9 percent.

The typical home spent an average of 126 days on market in March compared to 115 in February. Last year homes spent an average of 96 days on market. Overall, the trend has been one of gradual increases in the time spent on market.

On average, sellers of homes located in the Washington Township area of Indianapolis, Indiana received 93 percent of their list price.  While this stat remains unchanged from the previous month it is down just 1-percent from March, 2009.

Over the past 12 months, the average cost per square foot paid by buyers has never dropped below $69 and never rose above $79.  At $75, the cost per square foot in March almost split the difference.

The average ‘sold’ price was $176,000; while this is down 12.8 percent from February’s average of $202,000 it is up 11 percent from last March’s average of $158,000.

The average active price in March was $254,000 compared to $260,000 in February. This is also a 5.5-percent decrease from the average active price of $269,000 last March.