I was very anxious to view 2009 to 2008 to determine if we had declining values in Fishers, specific trends and any good news! I am an accountant by background and love the analytics of evaluating real estate; I also am a very good negotiator as a result of my previous training. That is a trait you WANT in your Fishers Real Estate Agent!
For 2009, there were 1,615 homes that sold in Fishers compared with 1,676 in 2008 so a decline of about 3.5% during what has been termed the most turbulent year in the housing market ever. Apparently no one told the residents in Fishers that!
If we look at the days on market (DOM) and price per sq ft, we see 2009 at 75 DOM and 2008 at 81 DOM which is an improvement! Homes were selling faster. The Marchant Team had seven homes in 2009 that sold in less than 20 days! Our average for 2009 was 67.
The price per sq ft in 2009 was $92.80 versus $97.05 in 2008; so some disappointment there as we saw a decline in the Fishers Real Estate market. There may be a few reasons for this. I noticed seller motivation very high this year as move up buyers saw great opportunities on the buy side and were willing to give more on the sale side. In addition our foreclosure and short sales were significantly higher this year (50%); these homes will typically sell for less per sq ft.
For December, we saw 81 homes sell compared with 102 in 2008 (it might be that folks have not turned in their year end closings yet, so I'm not overly alarmed by that). The highest priced home was $1,150,000 in the Horizons with 9,000 sq ft; keep in mind this home had been on the market since August of 2004 starting at $1,600,000.
There was a home in Lake Stonebridge that sold for $295,000 that was bank owned; normally that neighborhood is well into the $500,000 to buy. I know, it is where when I sell enough real estate, I will move!
You can look back to our monthly Fishers Real Estate market reports to see how each month looked and the neighborhoods that sold well. Statistics always vary by location right down to neighborhood. Let me know if you are interested in how your neighborhood faired. Or you might find it as a Fishers Neighborhood I have already highlighted. Our team writes varies area blogs, including the Noblesville Real Estate year end Market Report.
It is always good to know what is ahead as well and while I wish I could tell you your house will sell for $5,000 more than you thought in 10 days with multiple offers, I can't. There are some trends worth reading about though to help you sort through the Real Estate Market for 2010!