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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:

fishers real estate december 2010

 

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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