Syracuse Indiana Real
Estate - 2008 Home Sales Report
2008 was a real mixed bag of results for the housing markets and our Syracuse area was no exception. This area is blessed with many lakes and because of this factor, we really have two housing markets within one.
The homes that do not have any access to one of our lakes, we refer to as non - water. The homes that do are of course referred to as water properties. This includes lake front, channel front, Assigned pier spaces, deeded boat lots, community piers.
For purposes of area for this report. I have included all the geographical area that is in the Syracuse Elementary School District & Syracuse mailing address. This two areas were combined to include the East & South Sides of Lake Wawasee, as well as Papkeechie, Syracuse, Bonar & portions of Dewart.
| 2007 | 2008 | + - % | |
| # Sold Homes Non-water | 79 |
45 | -43% |
| # Sold Homes Water | 105 | 61 |
-42% |
| Total Sold Homes | 184 | 106 | -42% |
| Total Sales Volume | $45,707,043 | $23,004,535 | -50% |
| Avg.Sales Price Non-water | $106,330 | $134,532 | +27% |
| Avg. Sales Prices Water | $359,267 | $289,863 | -19% |
| Avg. Median
Sales Price - Non-water |
$96,900 |
$105,900 |
+9% |
| Avg. Median Sale Price - Water | $250,000 | $195,000 | -22% |
| Avg. Days on Market Non-Water | 138 | 114 | |
| Avg. Days on Market Water | 172 | 174 | |
As of 02/19/09 The Active Listings for sale in the area were 173 homes.
53 Non-Water & 120 Water properties, with 9 pending sales. A normal supply of homes for sale in a stable market is considered to be a number that can be absorbed in a 6-9 month period.
In our next article we will detail the local lakes and subdivisions activity and home values. Should you wish information on your home or neighborhood , feel free to contact us.
Your local housing experts,
Sharon & Greg Miller
Syracuse Realtors
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