Continuing its rise from the depths of winter, the number of pending sales has risen steadily; most recently climbing from 1,181 in March to 1,349 in April for an increase of 14.2 percent. Compared to last April’s total of 1,091 this is an increase of 23.6 percent.
While the biggest jump in the total number of homes sold occurred in March – as expected – there was still an increase of 4.9 percent as 1,036 homes sold in April compared to 988 in March. Compared to April of 2009, when 905 homes were sold, this an increase of 14.5 percent.
The number of Wayne Township homes for sale rose 4.9 percent as 7,812 homes were listed for sale in April versus 7,450 the previous month. This is essentially unchanged from Last April when 7,447 homes were listed for sale on the Wayne Township real estate market.
Some other pertinent information:
- The average total time spent on market in this area of Indianapolis dropped from 86 days in March to 79 days in April for a decrease of 8.1 percent. The 12-month average for this metric is right at 83.3 days.
- Over the most recent 12-month including April the sold-list differential has never dropped below 94 percent and never risen above 96 percent. April split the difference at 95 percent.
- Since hitting a 12-month low in January, 2010 the average cost per square foot for real estate in this area of Indianapolis has not dropped below $54. The average price paid by buyers in April was $56. The 12-month average is $54.8 per square foot.
- The average ‘sold’ price rose 2.7 percent from $109,000 in March to $112,000 in April. This is a 23-percent over last April’s average of $91,000. The average active price rose just slightly from $159,000 to $160,000. This is up 2.5 percent from a 12-month low of $156,000 that was set in December of 2010.
- The number of months of inventory based on closed sales remained unchanged from March at 7.5.