First Quarter Housing Report for Geist Area

By
Real Estate Agent with Keller Williams Indy NE 317-290-7775 www.marchantteam.com

Originally posted at My Indy Waterfront Blog

The Metropolitian Indianapolis Board of Realtors (MIBOR) has recently released their 1st Quarter Data.  The report shows that the first quarter of 2011 was 10.9% lower in homes sold from a year ago; keep in mind the First Time Buyer credit was available in the first quarter of 2010.Geist Real Estate

They assemble the report by County; so let me give you both Lawrence Township (Marion County) data and Hamilton County Data since Geist Real Estate crosses both counties.

Marion County was actually down 18.7% (so more than overall of 10.9%) and the average sale price was down 1.8%.  We currently have an absorption rate or inventory of just over 9 months.  A seller's market is at 5 months; so still heavily weighted towards buyers.

Hamilton County was down 9.4% in homes sold quarter to quarter, but their average selling price was up 3% from $232,000 to $239,000.  The absorption rate is similar to Marion at 8 months supply.

In summary, it is still such a great time to purchase a home.  The inventory is high, the rates are low and the sellers are motivated.  If it is your first time buying a home, join us for an educational session on what you need to know when buying your first home.  If you are a move up buyer or someone who is downsizing, we have lots of information on those topics too; just email your Geist Real Estate Agent.  If you would like either the Marion County or Hamilton County full report, just let me know.

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 Cindy "in Indy" Marchant - Geist Real Estate Agent
Keller Williams Realty Indy Metro NE
Geist IN Real Estate Website

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Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It is going to be interesting to see what happens in the markets now that the tax credit has expired.  I am curious to see how things roll out this year.

Apr 28, 2011 03:59 PM #1
Rainer
216,022
Joe Kenny
Realty Executive Midwest - Darien, IL
Better Than Your Average Joe

Cindy thatnks for posting this.  It shows that real estate really is local and you have to turn off CNN and call you and me.  Have a great weekend.

Apr 28, 2011 04:05 PM #2
Rainmaker
456,400
Stanley Stepak
Howard Hanna - Avon Lake, OH - Avon Lake, OH
Realtor - Avon Lake, Avon, Bay Village, Westlake,

Good numbers out there Cindy.  Happy sales this weekend

Apr 28, 2011 04:13 PM #3
Rainmaker
544,156
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

CIndy, way to break down the market report. It's all about what's going on in your local market.

Apr 28, 2011 04:57 PM #4
Rainmaker
775,965
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Cindy, you have a lot of beautiful homes in that area, and the news is not bad considering the comparison to last year with the tax credit scramble. 

Apr 29, 2011 01:28 PM #5
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"Cindy in Indy" , Realtor, Fishers Real Estate
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