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Avon Home Sales Drop 16.7 Percent in March, 2010

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.

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