Average ‘Sold’ Price Reaches 12-Month High in Lawrence Township

There were 962 homes listed for sale in the Lawrence Township area of Indianapolis, Indiana in March compared to 914 the previous month—a 5.3-perecent increase over the 1-month span.  This is also a 2.6-percent increase compared to the 938 Lawrence Township homes for sale in March of 2009. Meanwhile, the number of pending transactions has, for the most part, followed a straight, linear trajectory since January of 2010; the total has increased each month, going from 96 to 132 to 163 in January, February and March respectively.  March was up 23.5 percent compared to February and up 17.3 percent compared to March of 2009. The total number of homes sold continued its recovery from the 15-month low of 51 sales that occurred in January of 2010, topping out at 99 sales for the month.

Homes spent an average of 101 days for sale on the Lawrence Township real estate market in March; up just slightly from 99 the previous month.  This is a 38-percent increase over the 12-month low of 73 days on market that occurred in November of 2009 and a 6-percent increase over last March’s average of 95 days on market.

At 93 percent, the sold-list differential matched that of March, 2009. Sellers, on average, received 95 percent of list price in January, 2010.

Buyers paid an average of $63 per square foot, an increase of 10.5 percent, compared to $57 in February. The average cost per square foot was also $57 last March.

The average ‘sold’ price reached a 12-month high of $166,000 in March for a 25.7-percent increase compared to February.  This is also a 45.6-percent increase over last March’s average of $114,000. The average active price of  $200,000 was up slight compared to the previous month’s average of $196,000.