Indianapolis Real Estate News

Indianapolis Real Estate Report – Franklin Township – May 2007

 

Active:

May 2007 added 189 home to the Indianapolis real estate market in Franklin Township with an average listing price of $182,495.  May 2006 added 203 Indianapolis homes to the market with an average listing price of $160,513.  The average Indianapolis home that was newly added to the market in May 2007 in Franklin Township was up 13.69% or $21,982 over May 2006.

Pending:

In May 2007, 102 homes went pending on the Indianapolis real estate market in Franklin Township; the average home that went pending had an asking price of $141,852.  In May 2006, 96 homes went pending with an average asking price of $148,136.  The average home that went pending on the Indianapolis real estate market in May 2007 was down $6,284 or 4.24% over the same time last year.

Sold: *

There were 105 homes that sold in Franklin Township Indianapolis in May 2007 with an average selling price of $141,364.  The average Indianapolis home that sold in May 2007 took 83 days to sell and received 98% of the asking price.  May 2006 saw 109 homes sell in Franklin Township with an average selling price of $145,496.  The average home on the Indianapolis real estate market in Franklin Township had 81 days on the market and sold for 97% of the asking price.  The average Indianapolis home sold for 2.84% or $4,132 less in May 2007 than the same month last year. 

While the average price for the pending and sold homes in Franklin Township are down over last year, there is reason for optimism.  The number of newly listed homes is down almost 7% over last year (less supply) while the number of pending homes is up and the number of sold homes is relatively unchanged.  However, this change will occur overnight and the market will take some time to correct itself.

As of 6/26/2007, there are 713 homes for sale on the Indianapolis real estate market in Franklin Township.  In the past 12 months, 1011 Franklin Township homes sold: this means that if no new homes are added to the market there is currently an 8.46 months supply of homes on the Indianapolis real estate market in Franklin Township.

 

At a Glance:
2007	2006	% Change
Active: $182,495	Active: $160,513	13.69
Pending: $141,852	Pending: $148136	-4.24
Sold : $141364	Sold : $145,496	-2.84
Days on Market: 83	Days on Market: 81
Absorption Rate: 8.46

 

Indianapolis Real Estate Franklin Township Numbers Year to Date

Month	New List.	Avg. LP	Pending	Avg. LP	Closed	Avg. SP	% SP/LP	Avg DOM
Jan	209	$173,983	76	$149,775	48	$116,227	96.00%	96
Feb	147	$157,375	74	$136,101	76	$130,606	95.00%	99
March	208	$152,944	107	$131,390	72	$139,475	97.00%	87
April	203	$166,613	105	$142,366	102	$132,951	97.00%	84
May	189	$182,495	102	$141,852	105	$141,364	98.00%	83
YTD	956	$166,682	464	$140,297	403	$132,125	96.60%	89.8

 

*Sold homes numbers are calculated on all homes selling in Indianapolis Franklin Township under $500,000.

 

Related Links:

• Indianapolis Houses

Date: Tuesday, July, 17th 2007 @ 08:01:21 AM
Views: 787

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