Here is what happened for October 2008 for homes for sale in Fishers under $500,000:
| |
2007 |
2008 |
% Change |
| Active |
N/A |
662 |
|
| Homes Sold |
121 |
88 |
-27% |
| Average Selling Price |
$196,995 |
|
13% |
| Days on Market |
82 |
93 |
13% |
| Price Per Square Foot |
$91 |
$97 |
7% |
October was a little bit of a weird month for Fishers; the number of homes sold was way down with 27% less homes being sold this year but the average sales price was up a staggering 13% year over year. It should be noted though that the average sales price for October 2007 was the lowest of the year and the average sales price for October 2008 was the highest YTD. Basically what I am trying to say is don’t get too excited because we most likely will not see these types of increases in average sales price next month.
The overall picture of the Fishers real estate market is actually quite healthy. The YTD numbers indicate the average sales price is almost the exact same as last year and the absorption rate (number of months supply of homes currently on the market) is a relatively low 5.47. While the rest of the real estate world seems to be falling apart, Fishers just keeps plugging along.
Please visit our Indianapolis Homes for Sale website for more info about Fishers and the surrounding area. If you looking for a condo in Fishers, please visit our Fishers condos page to view all condos and townhomes for sale.
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I actually think this makes perfect sense...September and probably August were way up as more people tried to get down payment assistance before the program went away on 9/30/08. I personally closed 14 transactions in August and another 5 in September and many of them were Ameridreams. As that rush happened and the DPA went away those sales were pushed into September making October abnormally low. DPA are usually on lower end houses, thus artificially inflating the October selling prices.
Hopefully we'll be back to selling more houses soon!