Indianapolis Real Estate News

Indianapolis Real Estate Report – Washington Township – May 2007

 

At a Glance:
2007	2006	% Change
Active: $240,470	Active: $239,666	.34
Pending: $191,611	Pending: $209,013	-8.33
Sold : $170,817	Sold : $182,837	-6.5
Days on Market: 73	Days on Market: 79
Absorption Rate: 7.11

 

Active:

In May 2007, 421 Washington Township homes were added to the Indianapolis real estate market with an average listing price of $240,470.  In 2006, 481 Indianapolis homes were added to the market and the average asking price was $239,666.  The average asking price in 2006 and 2007 were almost identical for the new listed Indianapolis homes in Washington Township.

Pending:

May 2007 saw 183 Indianapolis homes go pending with an average asking price of $191,611.  May 2006 had 288 homes go pending with an average asking price of $209,013.  In May 2007, there were 36% less homes that went pending than in 2006 and the average asking price for pending homes was down $17,402 or 8.33%

Sold:

The Indianapolis real estate market in Washington Township had 194 homes close in May 2007.  The average home sold for $187,260, took 73 days to sell, and received 96.4% of the asking price.  In May 2006, 245 Indianapolis homes sold in Washington Township with an average selling price of $227,588.  The average home in 2006 took 79 days to sell and received 97.69% of the asking price.  May 2007 had 20.82% less homes close than in 2006, also the average selling price in 2007 was $40,328 or 17.72% less than in May 2006.

While it is undeniable that the numbers are down over 2006, a word of explanation is needed for the sold homes in May 2007.  The $40,000 decrease over last year is exaggerated by the fact that many more luxury homes closed in 2006 than in 2007.  In 2006, there were 15 homes that closed with a selling price over $500,000 including 4 homes that sold for over $1,000,000.  This is contrasted in May 2007 when only 8 homes over $500,000 sold with none over $1,000,000 selling.  If you consider only homes under $500,000 the numbers become $182,837 for the average selling price in 2006 and $170,817 in 2007; a difference of $12,020 or 6.5%.

As of 6/5/2007, there are 1323 Indianapolis homes for sale in Washington Township.  Over the past 12 months, 2231 properties have sold on the Indianapolis real estate market in Washington Township.  This means that if no properties are added to the market, there is currently a 7.11 months supply of homes on the market.  This is a clear indication that Washington Township remains a buyer’s market. 

 

Indianpolis Real Estate - Washington Township Numbers YTD:

Month	New List.	Avg. LP	Pending	Avg. LP	Closed	Avg. SP	% SP/LP	Avg DOM
Jan	420	$243,465	171	$160,338	121	$167,681	94.73%	92
Feb	286	$228,500	196	$213,727	145	$183,392	99.70%	102
March	406	$233,094	214	$210,942	185	$166,151	96.32%	71
April	424	$239,526	244	$191,201	208	$225,250	95.52%	84
May	421	$240,470	183	$191,611	194	$187,260	96.40%	73
YTD	1957	$237,011	1008	$193,564	853	$185,947	96.53%	84.4

 

Related Links:

• Pike Township Real Estate
• Lawrence Township Real Estate

Date: Monday, July, 16th 2007 @ 07:08:55 AM
Views: 248

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