From the looks of the latest figures, you’d have never known the Brownsburg real estate market was well into what is typically a fall slump in sales. October’s total of 47 closings, for example, was up nearly 24 percent over the previous month’s total of 38. Coincidentally, a total of 38 closings also took place 1 year ago, in October, 2011. And from September through October of this year there were, on average, a total of 48 closings per month, or 17.1 percent more, compared to this same period 12 months ago.
Even more impressive was the fact that October’s total of 50 pending sales was up 35.1 percent over the previous month’s total of 37. But that’s not all: Compared to October of 2011, this is an increase of 56.3 percent. This bodes well since pending sales are nearly always a good indicator of things to come in the near future. In yet another comparison, from September through October of this year, an average of 45 pending sales were progressing toward a future closing date, 25 percent more, compared to this same quarter in 2011.
What was particular striking was the sharp decrease in the number of homes listed for sale. October’s total of 13.2 represents a 13.2-percent decrease versus the previous month’s total of 287. And versus October of 2011’s total of 272 it is a decrease of 8.5 percent. The average number of homes listed for sale per month, from September through October of this year, was down 4.2 percent relative to this same 3-month period last year.
View the complete, original report here.