Zionsville Real Estate Report – May 2007

Active:

May 2007 added 86 homes to the Zionsville real estate market with an average listing price of $537,707.  May 2006 saw 77 Zionsville homes added to the market with an average listing price of $421,958.  The average home that was newly listed on the Zionsville real estate market is up $115,749 or 27.43%

Pending:

In May 2007, 40 homes went pending on the Zionsville Indiana real estate market with an average asking price of $414,875.  The same month in 2006 had 37 go pending with an average asking price of $398,409.  The average home that went pending on the Zionsville real estate market was up 4.13% or $16,466 over 2006

Sold: *

There were 33 Zionsville homes that sold in May 2007 and the average selling price was $262,160.  The average home took 90 days to sell and received 96% of the asking price.  May 2006 had 43 homes sell on the Zionsville real estate market with an average selling price of $296,239.  The average home that sold in May 2006 took 80 days to sell and sold for 97% of the asking price.  The average home that sold in May 2007 was down 11.5% or $34,079 over May 2006. 

Summary:

It should be noted that the dramatic increase in the average listing price for May 2007 is extremely out of the ordinary.  This is caused by the fact that several $1,000,000+ homes were listed in May 2007.  May 2007 is also the lowest average selling price for Zionsville real estate year to date.  It does not appear that this is a trend rather an anomaly, but only time will tell. 
As of 6/14/07 there are 346 homes for sale on the Zionsville real estate market.  Over the past 12 months 455 Zionsville homes have sold; this means that if no new homes are added to the market there is a 9.12 months supply of homes on the Zionsville real estate market.   

Zionsville Indiana real esate numbers year to date:

*Sold numbers are calculated on homes that sold in Zionsville under $500,000.