Late summer activity shows a decrease in newly listed homes with a sustained level of available inventory.
In the month of July 2017 Zionsville produced the following market trends:
1) Closed transactions of 66 were the 2nd highest in all of 2017 following a massive spike in June closings. The 66 closings in Zionsville represent 57% of all closed transactions in Boone County as a whole for the month.
2) New Pending transactions decreased to 72 from 77 the month before. At 72 Pending transactions, July posted the 2nd strongest numbers in 2017 as well as the 2nd strongest in a 13 month period.
3) As a result of the above activity, July housing in Zionsville produced a seller favored 3.8 Month Supply of Inventory (MSI) with a declining Average Days on Market (DOM) of 60.
4) The number of showings on homes reporting to industry resource Centralized Showing Services (CSS) peaked in the first week of July before steadily decreasing to close the month out. At the time of this post, August showings peaked again at a level not seen since early July.
5) The Average Sales Price for a Sold property in Zionsville was again $379,000 in June, flat from $380,000 in June.
August is historically a robust yet volatile month for activity with seasonal back to school needs dictating consumer behavior. Look for the August report in the first week of September.