Zionsville, Indiana Real Estate Stats - June 2016

By
Real Estate Agent with Schmidt Realty Group RB14038403
https://activerain.com/droplet/4TrT

Zionsville, Indiana Real Estate Stats - June 2016

How is the market in the Zionsville area of Metropolitan Indianapolis? Data encompasses the entire Zionsville Community School Corporation district and for purposes of this report, includes resale homes only (no new construction).

Here is the year-over-year results, comparing June 2015 to June 2016:

  June 2015 June 2016
Total Homes Sold 56 68
# Distressed Sales 1 3
Average Sale Price $390,132 $408,467
Average List Price to Sale Price Ratio 97.6% 97.6%
Average Days on Market   77 82

 

And month-over-month, comparing May 2016 to June 2016:

  May 2016 June 2016
Total Homes Sold 48 68
# Distressed Sales 0 3
Average Sale Price $406,709 $408,467
Average List Price to Sale Price Ratio 97.7% 97.6%
Average Days on Market 87 82

 

Here is the current status of residential real estate in Zionsville as of July 21, 2016:

  • 163 homes are active, for sale
  • 76 homes are under contract (accepted offer, yet to close)
  • 72 homes have sold in the past 30 days, 

From this, we can determine the area's Absorption Rate, which is simply the rate at which homes are selling in a specific area. 

When you plug in our numbers, it says that there is a little over a 14-week supply of homes on the market right now. This means that if market conditions do not change and if no new listings come onto the market, it will take only 14.4 weeks (a bit more than 3 months) for all of the current inventory to sell at the current pace of the market. A balanced market's absoprtion rate is typically right around 6 months. Zionsville is in the deepest sellers market we have seen in over a decade.

If you've been thinking about selling your house and would like to see where it potentially fits among others for sale, please call or text me at the number below. We just might be the in the middle of the best time for you to sell.

 

 

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Indiana Boone County Zionsville
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Mike Schmidt

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