Fewer Homes for Sale on Avon Real Estate Market in May

Fewer Homes for Sale on Avon Real Estate Market in May, 2011

After climbing to a 12-month high of 56 in March, 2011 the total number of pending sales in Avon Indiana has now loitered in the high-40?s for the second consecutive month, as there were just 48 pending sales in May compared to 47 the previous month. The good news is that, while somewhat anemic, this DOES represent an improvement of 2.1 percent. What?s more, compared to May of 2010 this is a 50 percent improvement in total pending sales. Viewed quarterly, however, from March through May of 2011 there were, on average, a total of just 50 pending sales per month, or 15.3 percent fewer, compared to this same quarter last year, when the monthly average was 59 pending sales per month.

But while pending sales were on the rise, albeit barely, May?s total of 44 closed sales was down 13.7 percent versus the previous month?s total of 51. Even worse, this represents a 39.7-percent decrease versus last May?s total of 73 closings. And, from March through May of 2011 there were, on average, a total of 49 closings taking place per month, or 10.9 percent fewer, compared to this same quarter 1 year ago, when the monthly average was running right around 55 closings per month.

May?s total of 352 Avon homes for sale remained unchanged from that of the previous month. Compared to this same time last year, however, when there were 404 homes on the market, this represents a 12.9-percent drop in total listings. Also, from the quarter that spanned from March through May of 2011 there were, on average, 10.5 percent fewer homes listed on the Avon real estate market, or 350, compared to this same quarter last year, when there were, on average, 391 homes listed per month.

Some other stats:

• The total cost per square foot rose ever-so-slightly, from $67 in April to $68 in May.
• The average ?sold? price was $170, or nearly 5 percent above the previous month?s average of $162,000.
• The average active price in Avon was was $221,000.

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Source: http://www.mswoods.com/blog/2011/07/12/fewer-homes-for-sale-on-avon-real-estate-market-in-may/

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