Indianapolis Homes for Sale - Market Report February 2012

Posted by Mike Taylor on Monday, March 12th, 2012 at 8:31am

Let’s take a look at the Indianapolis homes for sale market and see how it is starting out the 2012 year.  Here are some detailed numbers for the month of February 2012:

 
2010
2011
% Change
Active
N/A
5667

Homes Sold
567
617
9%
Average Selling Price
$103,771
$104,806
1%
Days on Market
95
101
6%
Price Per Square Foot
$57
$57
0%
Sales Price / List Price
95%
94%
-1%


And here is a YTD chart showing the past 3 years of data:

 
Number of Homes Sold

Average Sales Price
 
                 
 
2010
2011
2012
% Change
2010
2011
2012
% Change
 


 



 

Jan.
563
459
621
35%
$91,072 $106,543 $103,605 -3%
Feb.
669
549
617
12%
$113,889 $103,395 $104,806 1%
March
995
697

-100%
$111,683 $98,987   -100%
April
1,103
765

-100%
$114,745 $117,950   -100%
May
1,163
928

-100%
$125,374 $124,303   -100%
June
1,119
1,013

-100%
$126,220 $123,904   -100%
July
744
897

-100%
$121,356 $127,258   -100%
Aug.
676
941

-100%
$114,445 $117,898   -100%
Sept.
781
804

-100%
$111,028 $126,416   -100%
Oct.
659
743

-100%
$123,017 $111,193   -100%
Nov.
610
667

-100%
$115,321 $120,068   -100%
Dec.
710
719

-100%
$116,975 $107,563   -100%
 




       
Totals
9,792
9,182
1,238

$116,527 $116,808 $104,206 -10.79%


And our 4 year price history chart:

indianapolis indiana homes for sale february 2012


For the first time in 3 years, we are seeing an increase in the number of homes sold in Indianapolis!  This is very very very exciting.  The average sales price is up a little bit with a 1% increase in February, but the really exciting news the 35% and 12% increase in number of homes sold in the first two months of this year for Indianapolis Indiana homes for sale
The foreclosure market will continue to plague the market especially in Indianapolis versus the outlying suburbs.  We are still seeing almost ½ of all home sales as a result of foreclosures with 43% of all sales in both January and February from some sort of distressed homes. 

There is a sense of optimism in the real estate community and the feeling on the ground is that we have turned the corner.  Everyone seems to be busier than in recent memory and there is reason to believe 2012 will be a great year for real estate in Indianapolis.