Charlestown Indiana Market Report

By
Real Estate Agent with RE/MAX First AB21301874

Listings as of 2/3/07 – All information deemed reliable, but not guaranteed.

 

Residential - Active

 

2 BR

3 BR

4 BR

5 BR

All BR

# Units

16

118

40

7

181

Average List Price

$69,263

$159,842

$223,518

$289,243

$170,911

Average Market Time

80

97

116

107

100

Average Sq Ft

1087

1589

2086

2851

1703

 

Residential - Pending

 

2 BR

3 BR

4 BR

5 BR

All BR

# Units

1

16

5

1

23

Average List Price

$45,000

$165,475

$193,740

$299,900

$172,226

Average Market Time

82

105

105

45

102

Average Sq Ft

700

1636

1655

2654

1644

 

Sold – January 2007

 

2 BR

3 BR

4 BR

5 BR

All BR

# Units

0

9

3

0

12

Dollar Value

$0

$1,126,100

$767,500

$0

$1,893,600

Average List Price

$0

$127,411

$258,467

$0

$160,175

Average Sold Price

$0

$125,122

$255,833

$0

$157,800

Average Market Time

0

122

110

0

119

Average Sq Ft

0

1312

2073

0

1503

% of List Price

0

98.2

98.98

0

98.52

 

There were 12 homes sold in January 2007 compared with 17 in 2006.  The price of homes stayed roughly the same falling less than %1.  The current Monthly Absorption Rate is 16.95.  The Monthly Absorption Rate is the time it would take for all listings to sell if no other homes were put on the market.  More than six months is considered a buyer’s market while less than six months would be a sellers’ market.  As you can see, we are in a buyer’s market.  What this says is that buyers are taking their time to make their decisions.  There are is a lot of competition between sellers.  This is why it is so important for sellers to get your home priced correctly early so you give yourself the best chance it has to sell.

 

If you have any questions about or would like to know the market conditions for your specific area or neighborhood contact me at bmumaw@semonin.com.

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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