Perry Township Home Sales up 8.4 Percent in November, 2012

The Perry Township real estate market took two steps forward and one step back, at least insofar as 3 key indicators were concerned. Sales, for example, rose 8.4 percent as a total of 90 closings took place in November compared to 83 the previous month. But compared to the 81 closings that took place in November of 2011 this is a much better 11.1-percent improvement in sales. And, from September through November of this year, an average of 90 closings took place, 7.1 percent more, compared to this same quarter last year, when an average of just 84 closings took place.

The news was not great when it came to pending sales. The latest figures showed a 46.2-percent drop in pending sales, from 104 in October to just 56 in November. Of course, it is “that time of year” when the Central Indiana real estate market begins to slow, but 46.2 percent is quite a drop. Versus November of 2011, a less-pronounced, drop of 17.6 percent was observed. Comparing the average number of reported pending transactions during the months of September, October and November of this year to this same quarter 1 year ago, we see a decrease of 2.4 percent, or 80 versus 82 pending sales respectively.

November’s total of 488 homes for sale represents a 2.8-percent drop in total inventory relative to the previous month’s total of 502. But compared to last November’s total of 568 this is an even greater decrease of 14.1 percent. In yet another comparison, the most recent quarter from September through November of this year saw an average of 501 homes listed for sale each month, or 14.5 percent fewer, relative to this same 3-month period in 2011. What’s more, since hitting a 12-month record high of 577 in June, 2012, the total number of homes on the Perry Township market has fallen in each of the ensuing months by no less than 1.9 percent from one month to the next. The most recent total of 488 listings is at 84.5 percent the aforementioned June, 2012 peak

View the complete, original report here.