Don’t look now, but the Indianapolis real estate market just had its best month of the year. Here is a look at what happened in September for homes under $500,000 in Indianapolis:

The number of homes sold is down over last year, but only by 9.72% not by the 20 and 30 percent that we have been seeing in previous months. In addition, this is early in the month and this number will inevitably grow as agents close out the lagging deals from last month in the MLS. In addition to the vast improvement in the number of homes sold, the average sales price is basically unchanged over last year. Previously this year, we were seeing double digit decreases in the average sales price. Hence an unchanged average selling price is great news.

I don’t want to get too excited just yet, but Indianapolis real estate could be on the rebound. Several experts predicted it would be Q3 of 2008 that we would see a recovery. Hopefully we have hit bottom, the problem is you never know when you hit bottom until far after you have. Right now is a great time to take advantage of these prices and purchase a home.

If you are interested in purchasing either existing or new homes in Indianapolis, please visit our website to search all homes for sale in the Indianapolis MLS.