Originally posted at My Fishers Blog
There were 101 homes sold in Fishers in March, this compares with 147 in March of 2010. This is a 31% decline and is slightly better than the 45% decline we have seen for the first quarter of 2011. Many would say that the first time buyer credit is the cause, but I would use caution with that explanation. The number of homes sold in Fishers (Jan-March) for 2009 was 291, for 2010 it was 307 and for 2011 it was 208. So you can see the numbers are down from 2009 also when there wasn't a buyers tax credit.
This tells me that it is still a buyer's market. Sellers still have to have their homes priced right from the start (don't play chase the market), perfectly maintained and staged to sell. It has to look like a house for sale and not a home you live in; it is hard but that's the reality we have. If you are curious why your home isn't selling, you might read my Top 5 Reasons your home isn't Selling.
Are homes selling, yes...so don't be confused by the decrease in numbers. I saw a house yesterday that came on the market on the 2nd of April and it pended yesterday. It was beautifully staged and priced at the exact same price it sold for in 2007. Probably not what the seller was hoping for, but it will soon be behind him and hopefully he can make up the loss on the next home he buys.
The days on the market are right at 90 so that is really good news; we aren't lanquishing out there on average. The price per sq foot is rising at $95/sq ft this month compared with $91/sq ft a year ago. Average price of a home selling in Fishers in March of 2011 was $277,700 compared with $211,200 a year ago.
In reviewing the stats, I saw some interesting things. There was a house in Pine Bluff that had an enormous amount of mold in it...someone bought it for $130,000 in January and just sold it for $259,900 with multiple offers in March. There is a condo in Watersedge that was listed for $325,000 and sold in March for $155,000 with 2,358 sq ft. Sounds like a sweet deal until you step out onto the balcony and hear the roar of Olio Road.
Neighborhoods that saw the most activity with homes for sale in Fishers were Sunblest, Tanglewood and the Bristols. The Marchant Team actually sold two homes in Sunblest last month; both in less than 30 days.
If you are looking for an educated Fishers Real Estate Agent to help you buy a home or sell a home in Fishers, please give me a call. I have been writing the blogs for Fishers Real Estate for almost three years and know where the best resale is and how to sell your home.
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