I guess I should begin with the actives, there are currently 43 homes on the market with "on Geist Reservoir" in their description. Several of these are at Shorewalk and are condo's. If you exclude those condo's, the price point of homes on Geist Reservoir for sale are between $525,000 and $5,500,000 (quite a range).
The actives have been on the market for an average of 150 days, so there should be some motivated sellers out there as we head into a colder season here in Indy.
The newest listing is in Masthead on Spinnaker Court for $1,800,000 and was just listed on September 14th. It has 6 bedrooms and 7 full baths and 2 half baths. It is over 8,500 sq ft including the finished walk out basement. There is an inground pool and stunning views of the lake.
Of the 43 homes currently for sale on Geist Reservoir, 27 of them are in Lawrence Township and the other 16 are in Hamilton County.
There has only been one that sold in September; it was a bank owned and had been on the market quite awhile and had a fairly steep ravine to get to the water. It sold for $345,000.
The good news is there are four that are pended; so waterfront property is moving. One of those is at the Intercoastal on Geist and was also a distressed property. The other three are all just about $1,000,000 in price so we'll have to wait and see what they will sell for.
If you are looking for a home for sale on Geist, be sure you work with a Geist Realtor that will check the archive/history for the homes. Because of the price point, these homes are often relisted and do not show the true days on market. This is important to know as you assess the seller's motivation in determing what price you want to bid.
With 7/1 ARMS at 3% today and interest rates on 30 year and 20 years at lows; you can afford a lot more house than you could six months ago. Maybe a Geist home with a water view is what you want and now can afford!