Big Jump in Pending Sales for Greenwood, Indiana

Real Estate Report by m.s.Woods Real Estate, LLC. –  With increases in both, the total number of homes sold and total pending sales, things were looking pretty good for the Greenwood real estate market in March, 2010.  Starting with the total pending sales there was a significant 55.7-percent jump, with 123 pending sales in March compared to 79 the previous month.  While the 1-year comparison is not as pronounced it was nevertheless up 6 percent compared to March of 2009. What’s more, not only did this metric rise, but so did the rate of increase.

There was a 12.7-increase in the total number of homes sold, with 62 sales in March compared to 55 in February.  There were 3.3 percent fewer homes sold this same time last year in March.

While the total number of Greenwood homes for sale rose 5 percent, going from 643 to 675, the total number of listings is down 6.2 percent compared to March, 2009—a sign that things may be heading in the right direction with respect to supply-demand.

Total time spent on market, measured in days, rose almost 11 percent compared to the most recent 10-month average of 86.7 days. Still this is down 14 percent from the 110 days that Greenwood, Indiana homes spent on market in March of 2009.

While the sold-list differential dropped 1 percent from the previous month it remained respectable at 96 percent. This metric has never dropped below 94 percent over the past 150 months.  The 12-month average, including March, was 95.8 percent.

Rising 8.6 percent was the cost per square foot, with buyers paying $63 in March versus $58 in February. The 12-month average is $68.

If these recent numbers are any indication it would appear that the Greenwood real estate market is heading in the right direction as we approach the summer of 2010.