Greenfield Real Estate Market Makes Strides in March, 2011

The Greenfield real estate market made great strides in March of 2011 in 3 key statistical areas: Total closed sales, total pending sales and total listings. Starting with total listings, there were 300 Greenfield homes for sale in March, or 6.2 percent fewer, compared to the previous months total of 320. Even compared to March of 2010 this is a 5.1-percent reduction in the number of Greenfield homes on the market. There were 302 homes listed for sale per month, on average, from January through March of 2011. Compared to this same 3-month time frame 1 year ago this represents a 4.3-percent increase in total listings.

The total number of homes sold in Greenfield shot up an amazing 75 percent, from just 20 one month prior, to 35 in March. But compared to March of 2010, however, this represents a 5.4-percent reduction in total sales. Also, from January through March of this year there were a total of 23 closings that took place per month, on average, from January through March compared to an average of 30 total sales per month during this same period 1 year ago.

Even better was the number of transactions listed with a “pending” status. In March, there were 58 sales pending closure, or 70.6 percent more, compared to the previous month’s total of just 34—quite an improvement indeed. What’s more, compared to last March’s total of just 38 pending sales this represents a healthy increase of 52.6 percent. And in yet another comparison, there were, on average, a total of 39 pending sales per month from January through March, or 83 percent more, compared to an average of 36 during this same period 1 year ago.

Some other pertinent Greenfield real estate stats:

• The total number of new listings rose substantially in Greenfield Indiana, from just 40 the previous month to 70 in March. While this represents a reduction of nearly 20 percent versus last March’s total of 87 it is a 6-percent increase over the 12-month average number of 66 new listings per month.
• The absorption rate based on closed sales was 11.7 percent, while the absorption rate based on pending sales was a robust 19.3 percent.
• There were 9.6 months of inventory based on closed sales and 5.2 months of inventory based on pending sales.
• The median price for Greenfield homes in March was an even $100,000.

For up-to-date stats, including illustrative charts and graphs, please visit the 2-year Greenfield real estate market statistics report here. View the original article here.