The total number of Avon homes sold in March, 2010 dropped 16.7 percent from January’s total of 36, finishing with just 30 sales. This is also an 18.9-percent drop compared to a year ago in March when 37 homes sold. But compensating for this drop in home sales was an 18.2-percent increase in the total number of pending sales, with 52 pending sales in March compared to 44 the previous month. This is also a modest 7.1-percent decrease from the 56 total pending sales in March of 2009. The total number of Avon homes for sale jumped from 336 in February to 377 in March for a 12.2-percent increase. This also happens to be a 15-month high in the amount of inventory available on the Avon real estate market.
The average ‘sold’ price for these Avon, Indiana homes was $169,000. This is approximately a 27.4-percent increase over the 12-month average ‘sold’ price of $132,600. The average active price was $231,000.
Homes in Avon spent an average of 97 days on the market. While this is nearly a 33-percent increase over February’s average of 73 days it is 27 percent lower than the 12-month average of 133 days.
The sold-list differential was 94 percent, down 3 percent from the previous month. In fact, the sold-list differential for Avon homes has only once been below 94 percent over the past 15 months, when it hit 91 percent in January. The 12-month average is just a hair below 96 percent.
Buyers paid an average of $69 per square foot compared to $64 in February and $69 in March of 2009. The 12-month average is close to $72.
The absorption rate based on closed sales was 8 percent and the absorption rate based on pended sales was 13.8 percent. There were 12.6 months’ worth of inventory based on closed sales.