Fishers Indiana Market Update - November
Posted by Mike Taylor on Monday, December 14th, 2009 at 4:59pm.
Here are the number for Fishers IN homes that sold in November 2009:
2008 |
2009 |
% Change |
|
| Active | N/A |
593 |
|
| Homes Sold | 73 |
100 |
37% |
| Average Selling Price | $208,846 |
$194,448 |
-7% |
| Days on Market | 84 |
66 |
-21% |
| Price Per Square Foot | $91 |
$94 |
3% |
| Sales Price / List Price | 96% |
97% |
1% |
As always I like to include YTD numbers for some perspective:
Number of Homes Sold |
Average Sales Price |
|||||
2008 |
2009 |
% Change |
2008 |
2009 |
% Change |
|
| Jan. | 69 | 67 | -2.90% | $216,714 | $205,432 | -5.21% |
| Feb. | 86 | 79 | -8.14% | $213,481 | $207,417 | -2.84% |
| March | 129 | 106 | -17.83% | $214,817 | $183,270 | -14.69% |
| April | 117 | 120 | 2.56% | $228,846 | $187,131 | -18.23% |
| May | 161 | 147 | -8.70% | $202,926 | $212,985 | 4.96% |
| June | 153 | 152 | -0.65% | $212,484 | $218,474 | 2.82% |
| July | 167 | 133 | -20.36% | $223,644 | $203,758 | -8.89% |
| Aug. | 177 | 145 | -18.08% | $210,777 | $206,423 | -2.07% |
| Sept. | 155 | 115 | -25.81% | $223,056 | $236,620 | 6.08% |
| Oct. | 102 | 98 | -3.92% | $226,175 | $217,582 | -3.80% |
| Nov. | 73 | 100 | 36.99% | $208,846 | $194,448 | -6.89% |
| Dec. | ||||||
| Totals | 1,389 | 1,262 | -9.14% | $216,524 | $206,685 | -4.54% |
And a graph to help visualize things:
As expected with the then impending tax credit expiration, we see a big jump in the number of homes sold in Fishers for November. The average sales price does not jump as a result of this however. This might be explained away because the first time home buyers are purchasing the less expensive homes but I cannot say for sure. What I can say for sure is that inventory in Fishers Indiana is LOW! The absorption rate, or number of months supply of homes, is at a crazy low 4.92. Technically this puts Fishers into a seller’s market believe it or not. Let’s not pop the champagne yet though. This tax credit is creating a false increase in activity and we need to watch as the market progresses over the next few months.
Be sure to visit our Fishers real estate website for more information or you might also be interested in Sunblest Farms Fishers or perhaps Brooks Chase Fishers.
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