Southern Indiana Real Estate Market Report 12/7/08

By
Real Estate Agent with RE/MAX First AB21301874

Good morning everyone!  Another gloomy day here in Southern Indiana with the temperature dropping rapidly.  I don't really like all the weather changes, but I guess it isn't up to me!

Hope everyone is having fun getting ready for Christmas.  Only 15 more days!  It is really hard to believe I know.

Below are the numbers for the Southern Indiana Area.  You can also view the numbers for the Greater Louisville area as well as the Elizabethtown / Ft. Knox areas by clicking here.  As always, if you have any questions about these numbers or would like to discuss them further, please don't hesitate to call or email me.

The numbers for Southern IN are as follows as of Sunday, November 16, 2008:

Active Listings Stats

  • 2,400 homes currently on the market
  • $170,985 is the average list price of those homes
  • There is currently 15.8 months of inventory*

    Last 30 Days Stats

  • 152 homes sold
  • The average sales price was $119,549
  • The Sales Price vs. List Price was 95.6%**
  • The average Days on Market was 103***
  • There were 346 new listings on the market
  • There were 349 listings that were either canceled, withdrawn or expired

    Last 12 Months Stats

  • 2,626 homes sold
  • The average sales price was $128,628
  • The Sales Price vs. List Price was 96.3%**
  • The average Days on Market was 106***

*Months of inventory is calculated by dividing the current inventory by the amount of homes sold the previous 30 days

**Sales Price vs. List price is determined by dividing the average sales price into the average list price of homes sold

***This number does not reflect the times a home that is sold has been on the market before by (1) it's owner, (2) another Realtor whose listing expired, or (3) a listing cancelled and then relisted to generate new interest.  This number in most instances does not refleect the number of days from contract to close which averages 30-45 days for most closings.  In order to have a true picture of the date property is listed to the date of closing a seller would need to add prior "days for sale" activity to the above average days on market plus 30-45 days from contract to close.  The above is not reflective of a specific area but takes into account all homes on the MLS that sold in the last 30 days and the last 12 months.  Your agent can give you a specific report tailored to your area.

Southern Indiana Area is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River.  Information is deemed reliable but not guaranteed. These statistics include single family homes and condos only.

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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