There are currently 772 Fishers homes for sale and 91 homes pended (received an accepted offer) during February. The graph shows that for the second month in 2010 we are seeing fewer homes sell. The difference if fairly marginal this month; the solds were only 7 homes less than a year ago.
The average price per square foot remains constant at $87.00 and the days on market improved from 107 in 2009 to just 83 in 2010. It is definitely a great time to be selling.
The neighborhoods that sold the most in February 2010 were Brooks Chase (4), Marilyn Ridge (4) and Sunblest (5). This is probably indicative of the first time buyers credit still in force because these neighborhoods typically have homes priced lower than $150,000.
Remember that the Marchant Team has a first time buyer class every month on the last Thursday of each month. We have a lender, inspector and a Real Estate Agent discuss the process and answer questions. Registration is required.
The highest priced home was in Hamilton Proper for$520,000 in Turne Grove. The lowest priced home that sold was in Cedar Cove for $83,900.
One point worth mentioning in this Fishers Real Estate market report is related to distressed properties. In 2009 12% of the Fishers homes sold were distressed, in 2010 that number has jumped to 25%. It continues to be a sign of the times that we have distressed properties. The fall out of this is appraisals for "normal" homes in these neighborhoods will use these distressed properties as comparables.
If you would like to get an idea of what your home may sell for, I can give you an analysis that is free to you. I also have access to an appraiser who will appraise your home for a very very reasonable price. If you are curious or you are still wanting to take advantage of the "repeat" buyer credit email me at email@example.com and I'll help you through the process.