Fishers Real Estate - End of Year Report 2009

Posted by Mike Taylor on Monday, January 11th, 2010 at 3:03pm


It time to look back at the Fishers real estate market and see how it compared to 2008. First though, let’s take a look at the month of December:

 
2008
2009
% Change
Active
N/A
544

Homes Sold
92
75
-18%
Average Selling Price
$212,469
$204,072
-4%
Days on Market
85
59
-31%
Price Per Square Foot
$91
$90
-1%
Sales Price / List Price
94%
97%
3%


Now for the year end info for Fishers homes:

 
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.
92
75
-18.48%
$212,469
$204,072
-3.95%
 






Totals
1,481
1,337
-9.72%
$216,186
$206,468
-4.50%

 

 

And my average sales price by month for sold homes in Fishers IN graph:

 

fishers-real-estate-december_500
 

 

So, all in all we saw a 10% decrease in the average sales price and a 4.5% decrease in the average sales price for 2009 vs. 2008. Of course it is never good to see negative numbers in these categories especially the average sales price, but considering the housing market and the overall economy I think Fishers actually weathered the storm quite nicely.

thing that has me quite optimistic about the Fishers market for 2010 is the absorption rate, or number of months supply of homes on the market, is at its lowest point in December with a very manageable 4.52. We should see an increase in sales activity as the newest tax credit expiration gets closer and closer. Last time this did not translate into a higher sales price, so we will have to see what happens this time around. Overall the fundamentals are very strong in Fishers and the demand for affordable homes in a great family friendly environment is still quite strong.

 

Please visit our Fishers real estate page for more information or our Fishers foreclosures page.