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Westfield Indiana Homes for Sale - Market Report February 2012

Posted by Mike Taylor on Monday, March 19th, 2012 at 7:19am.

Today we are going to look at the how Westfield Indiana homes for sale are selling for the first couple of months of 2012. Here are some detailed numbers for the Westfield Indiana real estate market for February 2012:

 
2011
2012
% Change
Active
N/A
200

Homes Sold
19
25
32%
Average Selling Price
$199,814
$192,768
-4%
Days on Market
115
92
-20%
Price Per Square Foot
$91
$90
-1%
Sales Price / List Price
94%
96%
2%

 

And our YTD numbers:

 
Number of Homes Sold

Average Sales Price
 
         
 
2010
2011
2012
% Change
2010
2011
2012
% Change
 


 



 

Jan.
17
19
24
26%
$217,463$234,039$177,231-24%
Feb.
23
19
25
32%
$250,901$199,813$192,768-4%
March
41
34

-100%
$214,250$227,317 -100%
April
50
41

-100%
$218,450$209,291 -100%
May
41
42

-100%
$216,181$168,219 -100%
June
47
43

-100%
$260,125$204,417 -100%
July
36
36

-100%
$265,700$238,390 -100%
Aug.
29
47

-100%
$249,708$222,001 -100%
Sept.
23
33

-100%
$227,573$210,633 -100%
Oct.
31
31

-100%
$226,076$247,539 -100%
Nov.
27
27

-100%
$261,162$219,141 -100%
Dec.




    
 




    
Totals
365
372
49
1.88%
$236,614$214,961 -9.15%

 

And our 4 year price chart:

indianapolis indiana homes for sale february 2012

 

As you see the Westfield Indiana homes market is really on an uptick for the first two months of 2012 with a 26% increase and a 32% increase in the number of homes sold for January and February. Unfortunately, the average sales price doesn’t reflect the apparent increase in demand but that could be explained by any number of things including a very small sample size for the first two months.

The number of foreclosures is a bit concerning and something to watch as the year progresses. We saw 29% and 20% of all sales for Westfield homes in January and February come as a result of distressed properties. This is an increase over last year when we saw only 16% of all sales involving distressed homes.

Overall, the Westfield Indiana homes for sale market appears to be in great shape, The pending homes have a great average sales price, the absorption rate is great with only a 5.85 months’ supply of homes and the trend is for increased demand in Westfield homes.

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