Big Improvements Seen in Greenwood Real Estate Market in October, 2012

While there was a marked, 26.4-percent decrease in the number of closings that took place versus the previous month, the Greenwood real estate market showed some surprising improvements in a number of key areas in October, 2012. But while the most recent total of just 81 closings was off versus the previous month, compared to October of 2011, sales were actually up 8 percent. This is not a huge improvement but nor is it trivial. In fact, statistical improvements in 2012 versus 2011, far from being the exception, have been the norm for many Central Indiana towns and cities. One final note on Greenwood sales: From September through October of this year there were, on average, 114 closings each month, or 16.3 percent more, compared to this same month last year.

Another area of real improvement came in the form of an 8.4-percent increase in total pending sales versus the previous month. But most impressively, October’s total of 90 represents a 63.6-percent increase versus this same month last year. And, from September through October of this year, there were 93 pending sales in the sales pipeline, or 17.7 percent more, versus this same quarter last year.

For anyone trying to sell a home, the most recent 6.6-percent reduction in the total number of homes on the Greenwood market had to be a welcomed surprise. But not only was October’s total of 494 listings down versus the previous month, compared to 1 year ago, it represents a significant 20.0-percent decrease in available inventory. In fact, after plateauing in May, 2012, the number of Greenwood homes listed for sale has fallen each in of the ensuing months.  In yet another comparison, the average number of homes listed for sale each month, from September through October of this year, was down 19.4 percent relative to this same quarter in 2011.

View the complete, original report here.