Pending Sales Increase 6.1 Percent in Decatur Township

The month of April represented a departure from what had appeared to be the beginning of a trend toward increased home sales. Since rebounding from a 12-month low of just 16 sales in January, the number of homes sold dropped from 39 in March to 35 in April, a decrease of 10.3 percent. Fortunately, Decatur Township is just one of 2 Indianapolis townships to have suffered a drop in this statistical category. Compared to the 43 sales of April, 2009 the drop is even more pronounced at -18.6 percent.

The good news is that this drop in sales was partly offset by a 6.1-percent increase in the total number of pending sales in April as the number rose from 49 to 52. This is also an 18.2-percent increase over last April’s total of 44 pending sales.

The total number of Decatur Township homes for sale rose from 261 the previous month to 273 in April for an increase of 4.6 percent. Compared to the 204 listings of last April this is a 33.8-percent increase.

With sales up and listings down it comes as no surprise that the absorption rate based on closed sales dropped from 14.9 in March to 12.8 in April. On the plus side, the absorption rate based on pending sales rose ever-so-slightly from 18.8 percent the previous month to 19 percent.

While the average total time spent on market rose to 69 days in April this figure was down nearly 32 percent from a 12-month high of 101 days that was set in July of 2009. The most recent 12-month average is 77 days.

Homes for sale on the Decatur Township Real Estate market went for an average of 94 percent of list. The 12-month average sold-list differential is 95.8 percent.

There were 7.8 months of available inventory based on closed sales and 5.3 months based on pending sales.