Time to take a look again at the market reports and see what is going on in the Indianapolis real estate market through October 2011. Let’s take a look at the month of October 2010 vs. 2011 first:
2010 |
2011 |
% Change |
|
| Active | N/A |
6300 |
|
| Homes Sold | 659 |
743 |
13% |
| Average Selling Price | $123,017 |
$111,193 |
-10% |
| Days on Market | 87 |
101 |
16% |
| Price Per Square Foot | $62 |
$61 |
-2% |
| Sales Price / List Price | 93% |
92% |
-1% |
Now let’s take a look at the YTD numbers to give us a little more perspective:
Number of Homes Sold |
|
Average Sales Price |
||||||
2009 |
2010 |
2011 | % Change |
2009 |
2010 |
2011 | % Change |
|
|
|
|
|
|
|
|
|||
| Jan. | 639 |
563 |
459 |
-18% |
$84,007 |
$91,072 |
$106,543 |
17% |
| Feb. | 657 |
669 |
549 |
-18% |
$88,284 |
$113,889 |
$103,395 |
-9% |
| March | 872 |
995 |
697 |
-30% |
$99,974 |
$111,683 |
$98,987 |
-11% |
| April | 908 |
1,103 |
765 |
-31% |
$93,714 |
$114,745 |
$117,950 |
3% |
| May | 929 |
1,163 |
928 |
-20% |
$112,518 |
$125,374 |
$124,303 |
-1% |
| June | 1,113 |
1,119 |
1,013 |
-9% |
$115,289 |
$126,220 |
$123,904 |
-2% |
| July | 1,145 |
744 |
897 |
21% |
$114,838 |
$121,356 |
$127,258 |
5% |
| Aug. | 1,063 |
676 |
941 |
39% |
$110,872 |
$114,445 |
$117,898 |
3% |
| Sept. | 1,091 |
781 |
804 |
3% |
$109,715 |
$111,028 |
$126,416 |
14% |
| Oct. | 1,110 |
659 |
743 |
13% |
$104,331 |
$123,017 |
$111,193 |
-10% |
| Nov. | 957 |
576 |
-100% |
$111,091 |
$114,097 |
-100% |
||
| Dec. | 802 |
671 |
-100% |
$102,580 |
$117,631 |
-100% |
||
| Totals | 11,286 |
9,719 |
7,796 |
-13.88% |
$105,461 |
$116,503 |
$117,382 |
10.47% |
And the price graph for the last 3 years:
Looks like we had a pretty nice increase in the number of homes sold (13%) over last year while the average sales price took a bit of a tumble for first time in a few months. YTD, the average sales price is just about the same as last year which is pretty darn remarkable in this market and a good sign that not only Hamilton County is posting some positive numbers. The number of foreclosures continues to be a real problem in Indianapolis with almost 40% of all sales falling under the “distressed” category. The absorption rate is relatively under control though with only an 8.13 months’ supply of homes on the market.