Pending and Completed Sales Outpace Listings in Warren Township

In what has been a theme for nearly all of the Indianapolis townships the total number of homes sold in Warren Township rose 7.5 percent in April. Compared to last April’s total of 129 sales, however, there was no change. No bad news is good news.

While the number of completed sales was up, the total number of pending sales was up even further, climbing 34.4 percent from last month to reach a total of 168. Compared to last April this is a 35.5-percent increase.

The total number of Warren Township homes for sale also rose from 869 in March to 888 in April for a slight increase of 2.2 percent.   Compared to the 902 homes listed for sale in April of 2009 this is a decrease of 1.6 percent.

While down from a 15-month high of 107 days that was set in March of 2009 the total time spent on market in April was up from the nearly 22 percent from the previous month as homes spent an average of 95 days on market. The average time spent on market over the most recent 12-month period, including April, is 83 days.

Some other pertinent stats:

  • The sold-list differential was up 3 percent from the previous month at 95 percent.  The 12-month average for this metric is 94.6 percent.
  • Over the past 12 months, homes for sale on the Warren Township Real Estate market have gone for an average of $40.25 per square foot. Buyers paid slightly more than this average in April as homes went for an average of $42 per square foot.
  • With the rate of increase in both pending and completed sales outpacing that of listings it’s not surprising that the absorption rate based on pending sales rose from 14.4 percent in March to 18.9 percent in April. The absorption rate based on closed sales also increased from the previous month to 14.5 percent.