Pike Township Real Estate Report

The increase in the total number of homes for sale in Pike township, while not as significant as that of other townships in Indianapolis Indiana, was still felt by homeowners looking to sell their homes in a buyer-friendly market, with a total of 585 homes listed for sale.  This is almost a 4 percent increase over December’s total of 563 listings and 8.4 percent of the total 6,959 homes for sale on the Indianapolis real estate market during this same period.  The total number of homes sold dropped 36 percent from December’s total of 69 to reach a 6-month low of 44 homes sold.  The total number of pending transactions was right at 53.  These figures are pretty much consistent with what other townships in Indianapolis, Indiana have undergone.

Buyers benefited from an average per-square-foot price that fell to a 6-month low of just $53 per square foot.  The average home for sale on the Pike township real estate market sold for 95 percent of the list price, with the average ‘sold’ price being  $111,000. The median ‘sold’ price was just $89,000.

The number of months of inventory for Pike township based on closed sales reached a 6-month high of 13.3 months.  This equates to an absorption rate of just 7.5 percent based on closed sales and an absorption rate of 9.1 percent based on sale that were pending.