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Fishers Real Estate Report - July 2010

Posted by Mike Taylor on Wednesday, August 11th, 2010 at 11:49am


As expected, the tax credit hangover has officially affected the Fishers real estate numbers in a big way. Here are the YTD stats for all homes for sale in Fishers:

 
Number of Homes Sold

Average Sales Price
 
       
 
2009
2010
% Change
2009
2010
% Change
 






Jan.
67
62
-7%
$205,432
$230,595
12%
Feb.
79
75
-5%
$207,417
$193,646
-7%
March
113
131
16%
$188,454
$204,874
9%
April
124
155
25%
$186,470
$203,055
9%
May
159
153
-4%
$212,962
$199,209
-6%
June
157
150
-4%
$218,264
$216,551
-1%
July
154
86
-44%
$204,313
$229,578
12%
Aug.






Sept.






Oct.






Nov.






Dec.






 






Totals
853
812
-4.81%
$203,330
$211,073
3.81%


You will notice July saw a 44% decrease in the number of homes sold as compared to last year. The average sales price is actually up 12% over last year and up 4% YTD which is great news. Here is a graph looking at the average sales price for 2009 vs. 2010:

 fishers-july-2010_500_01

 

What is not great news is that this represents the 3rd straight month of declines in the number of homes sold. One of the things I started tracking this year is the number of “distressed” homes that are selling as a percentage of the total sales. This month, Fishers has 13 distressed properties sell which represents 15% of the total sales. Fishers short sales and Fishers Indiana foreclosures are making up more of the market this year than last so far.

The average price per square foot was $96 and the average list price to sales price was 97% for July 2010. It will be interesting to see how these numbers play out the rest of the year. I would hazard a guess to say we are going to see a few more months of declines due to the tax credit and then we should see the market start to normalize.

If you have any questions about Fishers real estate, please feel free to call me at 317-362-4064 or email me anytime.


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