We saw April numbers soar, with a 25% increase over last April. But as I mentioned in the April Fishers Real Estate post with the first time buyers credit and repeat credit expiring on 4/30/10, those numbers may have been inflated. In looking at May 2010, we saw 158 homes sell in Fishers compared with 175 homes last May. This is a decline of 10% from a year ago and nearly the same decline from last month. I think June and July numbers will be much lower also.
What does this mean for buyers, good news. It means that some sellers will see a decline in showings and traffic viewing their homes and their motivation may begin to rise. This increase in supply may mean better pricing for buyers.
There are two primary statistics to look at in analyzing the monthly real estate reports. They are days on market and $ per square foot sold. The days on market were 66 this May compared with 72 last May so a nice improvement. I think most sellers would be thrilled to sell their homes in 66 days!
The overall price per square foot sold is very general and does vary by neighborhood. But for May the overall number was $94 compared with $95 a year ago; so about the same.
There were just a handful of luxury homes (over $500,000) selling this May compared with 8 a year ago.
The Fishers neighborhoods that sold the most are the usual ones with Sunblest Farms (8), Summerlin Trails (4), but we had some new neighborhoods in Fishers make the list this month. Woodberry sold 6 and Sandstone Meadows sold 4 and Eller Run sold 4.
There are currently 203 homes pended and just 69 of those pended in May.
If you are a first time home buyer, we have a great class that teaches you about the process, the lending requirements and what a home inspector is likely to find. Please register to attend! It appears that the interest rates are low and the motivation of sellers may be on the rise.
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Other Northside Blogs (Carmel, Noblesville, and Geist)
Cindy "in Indy" Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
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