Fishers Indiana Market Update - November

Posted by Mike Taylor on Monday, December 14th, 2009 at 4:59pm


Here are the number for Fishers IN homes that sold in November 2009:

 
2008
2009
% Change
Active
N/A
593

Homes Sold
73
100
37%
Average Selling Price
$208,846
$194,448
-7%
Days on Market
84
66
-21%
Price Per Square Foot
$91
$94
3%
Sales Price / List Price
96%
97%
1%


As always I like to include YTD numbers for some perspective:

 
Number of Homes Sold

Average Sales Price
 
             
 
2008
2009
% Change
2008
2009
% Change
 






Jan. 69 67 -2.90% $216,714 $205,432 -5.21%
Feb. 86 79 -8.14% $213,481 $207,417 -2.84%
March 129 106 -17.83% $214,817 $183,270 -14.69%
April 117 120 2.56% $228,846 $187,131 -18.23%
May 161 147 -8.70% $202,926 $212,985 4.96%
June 153 152 -0.65% $212,484 $218,474 2.82%
July 167 133 -20.36% $223,644 $203,758 -8.89%
Aug. 177 145 -18.08% $210,777 $206,423 -2.07%
Sept. 155 115 -25.81% $223,056 $236,620 6.08%
Oct. 102 98 -3.92% $226,175 $217,582 -3.80%
Nov. 73 100 36.99% $208,846 $194,448 -6.89%
Dec.            
             
Totals 1,389 1,262 -9.14% $216,524 $206,685 -4.54%


And a graph to help visualize things:

fishers-real-estate-november_450 


As expected with the then impending tax credit expiration, we see a big jump in the number of homes sold in Fishers for November. The average sales price does not jump as a result of this however. This might be explained away because the first time home buyers are purchasing the less expensive homes but I cannot say for sure. What I can say for sure is that inventory in Fishers Indiana is LOW! The absorption rate, or number of months supply of homes, is at a crazy low 4.92. Technically this puts Fishers into a seller’s market believe it or not. Let’s not pop the champagne yet though. This tax credit is creating a false increase in activity and we need to watch as the market progresses over the next few months.

Be sure to visit our Fishers real estate website for more information or you might also be interested in Sunblest Farms Fishers or perhaps Brooks Chase Fishers.