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Admirals Bay - Geist Homes Market Update

Posted by Mike Taylor on Wednesday, January 28th, 2009 at 10:17am


This blog and website are going to focus on Geist real estate, Fishers, and Carmel real estate the majority of the time. In light of that, and since end of year is always a great time to produce some year over year numbers I thought I would start posting some subdivision reports. Today I am going to start off with the Geist neighborhood of Admirals Bay. Actually I am going to include some stats from Admirals Bay, Admirals Pointe, and Admirals Sound. Admirals Cove, Landing, and Woods will be included in the overall stats but not broken down individually. We are going to break this down a few ways, here is a look at everything that is active, pending, and sold in all the Admirals neighborhoods:

 
2007
2008
% Change
Active
N/A
39

Homes Sold
64
37
-42%
High Selling Price
$960,000
$1,525,000
59%
Low Selling Price
$174,900
$190,000
9%
Average Selling Price
$374,179
$415,495
11%
Days on Market
110
185
68%
Price Per Square Foot
$124
$132
6%
% List Price / Sales
96%
95%
-1%

 

As you can see from the difference in high and low selling price, this high level analysis doesn’t really tell the full story. That being said, I think for all the Admiral’s neighborhoods we need to look at waterfront and non waterfront homes. Here is a look at what happened with all waterfront Geist homes in all the Admirals neighborhoods:

 
2007
2008
% Change
Active
N/A
13

Homes Sold
13
6
-54%
High Selling Price
$960,000
$1,525,000
59%
Low Selling Price
$384,700
$240,000
-38%
Average Selling Price
$677,387
$886,000
31%
Days on Market
61
168
175%
Price Per Square Foot
$215
$254
18%
% List Price / Sales
96%
93%
-3%

 

And all Admirals non water front homes in Geist:

 
2007
2008
% Change
Active

11

Homes Sold
15
14
-7%
High Selling Price
$503,000
$420,000
-17%
Low Selling Price
$215,000
$1,900,000
784%
Average Selling Price
$320,086
$281,002
-12%
Days on Market
117
94
-20%
Price Per Square Foot
$117
$101
-14%
% List Price / Sales
96%
95%
-1%

 

For those wondering how they missed the water front home on Geist that sold for $240,000 don’t worry. This is the result of another Realtor incorrectly inputting the listing or exaggerating the truth. It was just pond front, not on Geist. If you compare the water home vs. non water homes we have a complete inverse of numbers. The number of homes sold on Geist is down 54% over last year while the non water homes in Geist are up 11%. The average selling price however has the exact opposite relation: the average sales price for water homes on Geist is up 31% while the non water homes are slightly down at -2% over 2007.

Here is Admirals Bay non waterfront homes individually:

 
2007
2008
% Change
Active

11

Homes Sold
15
14
-7%
High Selling Price
$503,000
$420,000
-17%
Low Selling Price
$215,000
$190,000
-12%
Average Selling Price
$320,086
$281,002
-12%
Days on Market
117
94

Price Per Square Foot
$117
$101
-14%
% List Price / Sales
96%
95%
-1%

 

 

Admirals Pointe (No water):

 
2007
2008
% Change
Active

5

Homes Sold
15
4
-73%
High Selling Price
$515,000
$417,000
-19%
Low Selling Price
$230,000
$231,900
1%
Average Selling Price
$347,700
$341,100
-2%
Days on Market
125
61
-51%
Price Per Square Foot
$113
$113
0%
% List Price / Sales
94%
97%
3%

 

And Admirals Sound (No water):

 
2007
2008
% Change
Active

6

Homes Sold
10
10
0%
High Selling Price
$409,900
$575,000
40%
Low Selling Price
$260,000
$250,000
-4%
Average Selling Price
$351,742
$401,590
14%
Days on Market
75
N/A

Price Per Square Foot
$103
$121
17%
% List Price / Sales
95%
97%
2%

 

 

I think I probably just overwhelmed you with info, but better more than less. Feel free to visit any of Geist Indiana real estate related pages: Admirals Bay, Waterfront Geist Homes, or Geist Condos for more info on the Geist Market.

 

 

 

 

      


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