Fishers Real Estate - Market Report October 2011

Posted by Mike Taylor on Friday, November 18th, 2011 at 9:18am

Time to look at the Fishers real estate market for October 2011:

 
2010
2011
% Change
Active N/A 609  
Homes Sold 104 89 -14%
Average Selling Price $254,123 $262,495 3%
Days on Market 85 93 9%
Price Per Square Foot $97 $96 -1%
Sales Price / List Price 96% 96% 0%

 

Along with some YTD numbers for Fishers homes for sale:

 
Number of Homes Sold

Average Sales Price
 
                 
 
2009
2010
2011
% Change
2009
2010
2011
% Change
 


 



 

Jan. 67 62 46 -26% $205,432 $230,595 $198,902 -14%
Feb. 79 75 53 -29% $207,417 $193,646 $229,899 19%
March 113 131 91 -31% $188,454 $204,874 $214,983 5%
April 124 155 105 -32% $186,470 $203,055 $192,547 -5%
May 159 153 146 -5% $212,962 $199,209 $204,888 3%
June 157 150 151 1% $218,264 $216,551 $212,265 -2%
July 154 86 151 76% $204,313 $229,578 $239,028 4%
Aug. 151 113 136 20% $212,850 $219,962 $235,369 7%
Sept. 138 92 120 30% $231,668 $217,698 $216,277 -1%
Oct. 120 104 89 -14% $215,546 $254,123 $262,495 3%
Nov. 113 69   -100% $193,180 $226,184   -100%
Dec. 79 75   -100% $194,620 $201,375   -100%
                 
Totals 1,454 1,265 1,088 -16.27% $207,249 $214,909 $221,047 2.86%

 

And our 3 year price graph:

It looks like despite a pretty significant decrease in sales activity, average sales price is actually up for the month and for the year. A YTD average price increase is remarkable considering the market and a 16% decrease in sales activity. Foreclosures or distressed properties make up 13% of the sales in Fishers for the month of October. This is far less than Indianapolis but not quite as good as its neighbor Carmel to the west. Average days on the market is still a very palatable 93 days and the price per square foot remain relatively unchanged with an average of $96 / sq. ft. The absorption rate, or months supply of homes on the market, is reduced this month to only 5.8.