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Indy Real Estate Market Sees Significant Improvements in October, 2012

For the fourth consecutive month, the number of Indianapolis homes listed for sale fell, most recently by 4.6 percent as there were 5,530 listings on the Indy market in October, 2012. But what stands out is not the fact that there were fewer listings on the market versus the previous month’s total of 5,799—considering the time of year, this is hardly unexpected in any Central Indiana real estate market—it’s that this represents a 14.2-percent decrease in total listings versus this same month 1 year ago. What’s more, from September through October of this year, there were 14.8 percent fewer homes on the market each month relative to this same quarter last year. Fewer listings on the market can only be a good thing for sellers considering this has been a buyer’s market for nearly 4 years and counting.

Another very positive statistical development was seen in the latest figures for pending sales. Not only does October’s total of 862 represents a 5.8-percent increase versus the previous month’s total of 815, but versus October of 2011, it is a much larger increase of 16.5 percent. This bodes well for the near-term future of the Indy market. In another comparison, the average number of pending sales, September through October of this year, rose 11.3 percent relative to where the market was during this same 3-month period last year.

And for the trifecta, the most recent total of 904 closings, while off by just a single closing, nevertheless represents a hefty increase of nearly 19 percent in total sales versus 1 year ago. And, from September through October of this year, there was 14.8 percent more sales activity on a monthly basis relative to this same quarter in 2011.

This report provided courtesy of msWoods Real Estate.

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View the complete, original report here.