Sales Up, Listings Down for Brownsburg Real Estate Market

The Brownsburg real estate market showed signs of health in April as sales were up and listings were down slightly. The total number of homes sold rose from 46 in March to 55 in April for an increase of 19.6 percent. This figure is also up 27.9 percent over last April when there were 43 completed sales.

The total number of Brownsburg homes for sale dropped 2.1 percent, from 291 the previous month to 285 in April. This is up just 1-percent from last April’s total of 282 listings.

There was no change from the previous month as the total number of pending sales held steady at 68. When compared to last April’s total of 47, however, this is a 44.7-percent increase.

The absorption rate based on closed sales rose from 15.8 percent in March to 19.3 percent in April.  This is a 4.1-percent improvement compared last April’s absorption rate of 15.2 percent. The absorption rate based on pending sales rose just slightly, from 23.4 to 23.9 percent. This figure was at 16.7 percent a year ago.

After dropping from 100 days in February to just 62 days in March, the average time spent on market rose again in April to 90 days. While no seller enjoys waiting 3 months to sell a home it’s better than waiting 126 days, which is the average time spent on market in April of 2009.

Over the past 12 months the average sold-list differential has rarely dropped below its 12-month average of 96 percent. In April it dropped to 95 percent.

Sellers benefited somewhat as buyers of Brownsburg, Indiana homes paid an average price per square foot of $80 compared to $74 the previous month, an increase of 8 percent. The 12-month average for this metric is $72.