Pike Township Real Estate Report

There were 577 homes for sale in Pike Township in February compared to 585 in January.  While this is down just 1.4 percent from the previous month it is an 8.7-percent decrease from the 659 homes that were listed for sale in February of 2009. There was a 15.2 percent increase in the total number of homes sold, with 53 homes selling in February compared to 46 in January.  This is down 7 percent from last February’s total of 57 sales.  An average of approximately 92 homes sold per month in Pike Township over the past 12 months.  The number of pending sales was up sharply — 63.3-percent to be exact–with 80 on the books in February compared to 49 in January.  There were 89 pending sales in February of 2009.

Pike Township real estate sold for an average of 96 percent of list price in February, 2010. In fact, the sold-list differential in this same area of Indianapolis, Indiana was exactly 96 percent in eight of the past 12 months.  The sold-list differential in February of 2009 was 93 percent.

While the average ‘sold’ price of $109,000 was down nearly 6 percent from January’s average of $116,000 it was down just 4 percent compared to the $114,000 average ‘sold’ price of February of 2009.

There was just a $1 increase in the average cost per square foot with buyers paying an average of $57 in February compared to $56 the previous month.  The average cost per square foot last February was $53 while the 12-month average was approximately $60.

Overall, the Pike Township area of Indianapolis, Indiana appears to be on track for a busier spring and summer.