As all of Central Indiana marched ever closer to winter, it was no surprise that the Wayne Township real estate market continued a trend toward decreased market activity in November, 2012. In fact, November marked the 4th straight month that the total number of homes on the market fell by at least 4 percent relative to the previous month. The most recent total of 536 listings represents a decrease of 4.3 percent compared to the previous month’s total of 560 listings. But compared to November of 2011, this is actually a much greater 15.6-percent decrease in inventory. As well, from September through November of this year there were, on average, 561 homes on the market each month, or 14.6 percent fewer, relative to this same quarter in 2011.
While total sales were on the decline by 20.6 percent compared to the previous month, the most recent total of 77 closings matches exactly last year’s total during this same month. In yet another long-term view, the average number of closings each month, from September through November of this year, was up 8.1 percent versus this same quarter 1 year ago.
The latest figures for pending sales weren’t pretty at first glance. November’s total of 79 pending transactions represents a 19.4-percent drop versus the previous month’s total of 98. But compared to November of 2011, this is actually a very respectable increase of nearly 13 percent. Our most impressive stat comes in the form of a 22.1-percent increase in the average number of pending sales that were reported each month, from September through November of this year compared to this same quarter 1 year ago.
View the complete, original report here.