Charlestown Indiana Market Report - October 1, 2007

By
Real Estate Agent with RE/MAX First AB21301874

October 1, 2007

Residential - Active

2 BR

3 BR

4 BR

5 BR

All BR

# of Units

13

136

41

13

203

Average List Price

$94,835

$169,669

$243,302

$330,631

$190,056

Average Market Time

86

99

101

83

97

Average Square Ft.

1107

1600

2071

2520

1722

 

 

 

 

 

 

Residential - Pending

2 BR

3 BR

4 BR

5 BR

All BR

# of Units

0

14

3

0

17

Average List Price

$0

$152,568

$184,600

$0

$158,221

Average Market Time

0

47

104

0

57

Average Square Ft.

0

1547

2093

0

1643

 

 

 

 

 

 

Residential - Sold September 2007

2 BR

3 BR

4 BR

5 BR

All BR

# of Units

2

18

3

0

23

Dollar Value

$80,500

$2,582,857

$680,750

$0

$3,344,107

Average List Price

$48,700

$147,800

$234,383

$0

$150,476

Average Sold Price

$40,250

$143,492

$226,917

$0

$145,396

Average Market Time

174

136

97

0

134

Average Square Ft.

1285

1456

2377

0

1561

% of List Price

82.65%

97.09%

96.81%

0.00%

96.62%

 

Using the stats above, the monthly absorption rate for Charlestown is just over 10 months, which is less than a lot of the other surrounding areas.  The monthly absorption rate is the time it would take to sell the entire inventory that's on the market currently.  Typically, anything over 6 months is considered a "buyer's market" and anything under 6 months is considered a "seller's market".  As you can see, we are in a buyer's market at the moment.  Couple that with the fact that interest rates are still low, and you will see that now is a great time to move.

 

If you are on the fence or you have questions, please contact me via cell (502) 641-1677 or email bmumaw@semonin.com.  I’d love to sit down and answer any questions you may have.

 

Equal Opportunity Housing.  All information deemed reliable, but not guaranteed.  All information herein has not been verified and is not guaranteed.

Posted by

Your Best Move for Southern Indiana Real Estate

Brett Mumaw REALTOR®

Semonin Realtors

3707 Charletown Rd. Suite 1A

New Albany, IN 47150

(812) 542-9057 Office

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