Here is a quick glance at what happened for Fishers homes under $500,000 in June 2008:
| |
2007 |
2008 |
% Change |
| Active |
N/A |
554 |
|
| Homes Sold |
183 |
139 |
-24% |
| Average Selling Price |
$205,643 |
|
-2% |
| Days on Market |
63 |
73 |
16% |
| Price Per Square Foot |
$95 |
$91 |
-4% |
As you can see the number of homes sold is down 24% over last year and the average selling price is down slightly at 2% over last year. It is also taking an average of 10 days or 16% longer to sell a home this year versus last year.
While none of these numbers are really positive I still think the Fishers real estate market is relatively strong. The absorption rate is still reasonable, at a 6.57 months supply of homes on the market. In addition, I can tell you that from being “in the trenches” Fishers homes are selling. I have it happen all the time when I go to set up a showing that I hear “that home just went pending” or “this is active but accepting backup offers”.
Everyone is feeling the pain of the current housing market, but areas like Fishers and the Carmel real estate and Noblesville real estate markets are less prone to be affected by this simply because they remain highly desirable areas.
If you are interested in Fishers real estate, please visit our Indianapolis Homes website to search for all homes in the area for sale and to qualify for your commission rebate.
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