Indianapolis homes - Market Report - April 2011

Posted by Mike Taylor on Friday, May 6th, 2011 at 9:38am

Time to look at how the Indianapolis real estate market did in April 2011:.

 
2010
2011
% Change
Active N/A 9060  
Homes Sold 1108 765 -31%
Average Selling Price $114,841 $117,950 3%
Days on Market 82 101 23%
Price Per Square Foot $66 $62 -6%
Sales Price / List Price
95%
94%
-1%

 

The YTD numbers:

 
Number of Homes Sold

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


 



 

Jan. 639 563 459 -18% $84,007 $91,072 $106,543 17%
Feb.
657
669
549
-18%
$88,284
$113,889
$103,395
-9%
March
872
995
697
-30%
$99,974
$111,683
$98,987
-11%
April
908
1,103
765
-31%
$93,714
$114,745
$117,950
3%


And the price graph:

Indianapolis homes April 2011

Overall, the number of Indianapolis homes that sold in April 2011 is significantly down over 2010 with 30% fewer homes selling this year versus last. The average selling price took turn in the right direction this month after two pretty lousy months in February and March. The % of Indianapolis homes that sold that were distressed increased from 34% to 37% in April 2011 which is not a great sign but not unexpected. The banks are due to dump their inventory this year and we should see this trend continue over the course of the year.