Last week had a drop of new listings. Properties that where pending (in escrow), and had been sold in all three Counties, we have been tracking.
Every week we pull information for the Central Indiana real estate market and look at the last week’s market condition for central Indiana. To simplify the process we are pulling the information for three counties that are part of the Central Indiana real estate market.
We used Marion, Hamilton and Johnson County for our report. This report is for the week of 08/18/2014 – 08/25/204
During that week Marion County had 335 new listings with an average list price of $131,054, compared to last week where Marion County had 388 new listings with an average list price of $133,945. Hamilton County had 140 new listings with an average list price of $263,305 two weeks ago and last week they had 143 new listings with an average list price of $249,849. Hamilton County had more listings but the average list price saw a drop. Johnson County had 61 listings that were made available with an average list price of $207,192 two weeks ago compare to last week having 54 new listings with an average of $188,214 list price. That was a significant drop in pricing from one week to another.
You can even see a small drop in pending (in escrow) properties. Two weeks ago Hamilton County had 112 properties where the sale is now pending (in escrow) compared to last week where Hamilton County only had 100 properties that are now pending sale (in escrow). Johnson County had 50 properties where the sale was pending (in escrow) two weeks ago compared to last week where Johnson County had 47 properties that were pending sale (in escrow). Marion County last week had 226 properties that were pending sale offer (in escrow) compare to last week were Marion County had 204 pending sales (in escrow).
When we are looking at closed sales last week compare to two weeks there is a difference in numbers and might indicate a slowdown of sales. Marion County, two weeks ago, had the most closings with 248. The average sold price for Marion County was $112,168 and the average marketing time was 56 days during that time. Last week Marion County only had 219 closings and the average sold price for Marion County was $119,586 for that week and the average marketing time was 62 days. The average sold price was higher, but it took a little longer to close the deal. Johnson County had 78 properties that closed two weeks ago and the average sold price at that time was $219,530 with an average of 54 days of marketing time. When you now compare this one to last week Johnson County actually had more closings with 56, but a much lower average list price of $152,918, and longer marketing time with 67 days.
Hamilton County had a marketing time of 41 days with an average sold price of $242,675 and a total of 151 homes that sold two weeks ago when we now compare this to lasts weeks sales Hamilton County sold 150 homes with an average sold price of $250,889 and a marketing time of 54 days. It appears that Hamilton Counties sellers are holding off a little longer to get a higher price for their home.
When you are looking for a real estate firm who understands their clients and the market, contact the Settles Team. We are here to assist our clients in fulfilling their real estate dream.