The number of Washington Township homes for sale rose 9 percent in April, reaching a total of 1,293. This is a 9.5-percent increase over the 1,181 homes listed for sale in April of 2009.
In a sign that spring had finally arrived for the Washington Township real estate market the number of homes sold rose 13.8 percent as 173 homes were sold in April compared to 152 the previous month. This is a 31.1 percent increase compared to 12 months ago and an astounding 98.9-percent increase compared 15 months ago.
Meanwhile, the total number of pending sales increased 15.5 percent, with 223 in April compared to 193 in March. This is a 28.9-percent increase from last April’s total of 173 pending sales and a whopping 129.9-percent versus 15 months ago.
Not only were there more sales and pending sales but the time spent on market dropped approximately 28 percent, with homes spending an average of 72 days on market compared to 100 the previous month. Homes spent an average of 96 days on market in April of 2009. The 12-month average is 84.9 days.
Some other pertinent facts:
- Rarely has the sold-list differential in the Washington Township area of Indianapolis dropped below 94 percent. It was 95 percent in April compared to 94 percent the previous month and 94 percent in April of 2009.
- Buyers paid an average of $73 per square foot compared to $72 per square foot in March. The 12-month average is $71.5.
- The average ‘sold’ price rose nearly 3 percent, with homes selling for an average of $173 in April versus the previous month.
- The average active price was $264,000 compared to $254,000 in March.
- There was approximately 7.5 months’ worth of inventory based on closed sales in April.