Fishers Real Estate - Year End Report 2010
Posted by Mike Taylor on Tuesday, January 11th, 2011 at 8:49am.Yesterday we looked at Indianapolis, today we will be looking at how the Fishers real estate rounded out 2010. Indianapolis had a very clear trend of decreased sales activity and increased sales price. Fishers will continue this trend as 2010 closes out. First let’s take a look at December in detail:
2009 |
2010 |
% Change |
|
| Active | N/A |
602 |
|
| Homes Sold | 79 |
75 |
-5% |
| Average Selling Price | $194,620 |
$201,375 |
3% |
| Days on Market | 61 |
96 |
57% |
| Price Per Square Foot | $89 |
$89 |
0% |
| Sales Price / List Price | 97% |
96% |
-1% |
Now let’s see the entire year month by month:
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. | 151 |
113 |
-25% |
$212,850 |
$219,962 |
3% |
| Sept. | 138 |
92 |
-33% |
$231,668 |
$217,698 |
-6% |
| Oct. | 120 |
99 |
-18% |
$215,546 |
$254,235 |
18% |
| Nov. | 113 |
69 |
-39% |
$193,180 |
$226,184 |
17% |
| Dec. | 79 |
75 |
-5% |
$194,620 |
$201,375 |
3% |
| Totals | 1,454 |
1,260 |
-13.34% |
$205,931 |
$216,414 |
5.09% |
And let’s look at the average sales price:
As you can see, the trend continues with 13% less homes selling and a 5% increase in average sales price. One of the things I started tracking this year is the percentage of closings that involved “distressed” homes. In Indianapolis that number was 36% for 2010 while in Fishers we see only 14% of all sales activity involving distressed properties. This is a very very good thing for Fishers. The other great news for Fishers is the absorption rate is a very balanced 5.63 months. This means all the fundamentals of the market a actually quite strong. All we need now is just a little more demand and the Fishers market could turn hot.
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