The Greenwood Indiana real estate market had a 20% increase in sales for January, but is showing a significant decrease in sales in February 2008. In addition to the number of Greenwood homes selling, the average sales price is also down. Here is a quick look at what happened in Greenwood for February 2008 for homes under $500,000:
2006 |
2007 |
% Change |
|
| Active | N/A |
662 |
|
| Homes Sold | 81 |
47 |
-42% |
| Average Selling Price | $152,359 |
$136,005 |
-11% |
| Days on Market | 94 |
314 |
234% |
| Price Per Square Foot | $82 |
77 |
-6% |
A quick note about the days on market, there is a home that is throwing the numbers way off with a days on the market of over 10,000. Obviously something is wrong, as that home has not been the market for over 27 years. Throwing that out, we are still looking at some pretty bleak numbers for Greenwood homes in February 2008. As with some of the other north side neighborhoods such as Carmel real estate, the absorption rate appears to staying at a manageable level with only a 6.67 months supply of homes currently on the market. Spring is right around the corner and hopefully that along with the new tax bill will galvanize the Greenwood real estate market.
If you are considering purchasing or selling Greenwood real estate, contact Mike Taylor at Rebate Real Estate to learn more. You can also visit our Indianapolis real estate website to learn more about our 50% commission rebate offer.
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