Pending Sales Up 41.1 Percent in Avon Indiana

The number of homes sold in Avon, Indiana dropped 9.3 percent as just 39 homes sold in April compared to 43 the previous month. But offsetting this drop was a significant 41.1-percent rise in the total number of pending sales, with 79 in April compared to just 56 in March. Compared to April of 2009 this is a 17.9-percent increase. The total number of Avon homes for sale rose from 377 in March to 392 in April for an increase of 4 percent. What’s more, compared this same time 12 months ago the number of listings was up a significant 26.9 percent.

With sales down it’s no surprise that the absorption rate based on closed sales dropped from 11.4 to 9.9 percent. The absorption rate based on pending sales rose from 14.9 to 20.2 percent.

There were 10.1 months of inventory based on closed sales in April compared to 8.8 the previous month. A year ago this same time there just 5.6 months of inventory. The total months of inventory based on pending sales dropped from 6.7 the previous month to just 5 in April. A year ago this figure was 4.6.

Homes spent an average of 88 days on the Avon real estate market in April compared to 80 in March. While this was not far from the 12-month average of 84 days it was a 34-percent decrease from the 15-month high of 134 days that was set in January, 2010.

The sold-list differential rose 2 percent from the previous month, topping out at 97 percent. This is actually quite an improvement from the 12-month low of 91 percent that occurred in January of 2010.

The average ‘sold’ price ticked down a notch from $168,000 in March to $167,000 in April; while the average active price rose 2.1 percent, from $231,000 to $236,000.