November is the time of year in Central Indiana where holiday distractions combined with cooler, fall temperatures begin to exert a noticeable effect on the real estate market, and this year it was no different. A total of 104 closings took place in November, or 25.7 percent fewer than the previous month’s total of 140. But what is most remarkable about the latest figure is the fact that compared to the 64 closings that took place in November of 2011 this represents a significant increase of 62.5 percent in total home sales. What’s more, an average of 123 closings took place each month during the months of September, October and November of this year, or 33.7 percent more, relative to this same 3-month period 1 year ago.
The Fishers real estate market saw an 18.2-percent decrease in the number of reported pending sales, from 110 in October to 90 in November. But while this marks the 7th straight month that pending sales have fallen, like our previous stat, it represents an increase versus November of 2011, of 5.9-percent to be exact. Also up was the average number of pending sales reported each month, from September through November of this year, relative to this same quarter last year, or 110 versus 86 respectively.
Since hitting a record 12-month high of 690 in May, 2012, the total number of homes listed on the Fishers real estate market have fallen, most recently hitting a new, 15-month low of just 501 in November. Versus October of this year, this translates to a 6.9-percent decrease. And versus last November’s total of 576 this is an even greater 13-percent decrease in total listings, which is a positive development for the Fishers market in general. An average of 540 homes were on the market from September through November of this year, or 13.3 percent more, relative to the monthly average for this same quarter 1 year ago of 623 listings. Finally, of the 501 homes on the Fishers market in November, 109 were new listings, which represents a 22.7-percent decrease versus the previous month’s total of 141. It is also down 33.1 percent versus the 12-month average of 163.
View the complete, original report here.