Wednesday, March 20, 2013

2012 Westfield Real Estate Market Vastly Improved Versus 1 Year Ago

Westfield Indiana Real Estate Data Chart - January, 2013

The 2012 Westfield real estate market was among the most improved in all of Central Indiana, as evidenced by huge increases in several key stats. A total of 603 Westfield homes were sold in 2012, up 51.5 percent over the 2011 total of just 399. This translates to an average of 50 closings per month for all of 2012 compared to just 33 per month for all of 2011. Also, from October through December, 2012 there were on average 46 homes sold per month, or 64.3 percent more versus the final quarter of 2011. In all, there were 204 more homes sold for all of 2012 compared to all of 2011.

But not only were there more homes sold in 2012, there were more pending sales in the pipeline, 575 in all to be exact. Compared to the 2011 total of 411 this represents a hefty 41.2-percent increase. Expressed monthly, an average of 48 pending sales were reported for all of 2012, compared to an average of just 34 for all of 2011. And, looking at the final quarter of 2012, an average of 39 pending sales were reported each month, or 44.4-percent more, compared to this same 3-month period in 2011. In sum, there was a net difference of +164 pending sales in 2012 versus 2011.

Another very positive development concerned a reduction in available inventory. In 2012, a total of 2,485 homes were listed for sale, compared to 2,938 listings for all of 2011. This equates to 207 homes for sale each month, or 15.5 percent fewer, compared to 245 per month for all of 2011. And, from October through December, 2012 there were 167 homes listed for sale each month, or 26.1 percent fewer, compared to an average of 226 per month during this same quarter in 2011. The bottom line is that there were 453 fewer homes on the market for all of 2012 compared to all of 2011.

This report provided courtesy of msWoods.

Other Westfield Real Estate Resources Online:

View the complete, original report here.

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