Indianapolis Real Estate Index

Contact Red Door Real Estate

If you have any questions or need more detailed information, please feel free to contact me via phone at 317-RED-DOOR / 317-733-3667 or fill out the form to let us know how we can help with your real estate needs.

Phone: (317) 733-3667
Fax: (317) 663-0840

Refine your search...
Use the form below to narrow down your results

Indianapolis Real Estate - Market Report October 2011

Posted by Mike Taylor on Tuesday, November 15th, 2011 at 11:15am.

Time to take a look again at the market reports and see what is going on in the Indianapolis real estate market through October 2011. Let’s take a look at the month of October 2010 vs. 2011 first:

 
2010
2011
% Change
Active
N/A
6300

Homes Sold
659
743
13%
Average Selling Price
$123,017
$111,193
-10%
Days on Market
87
101
16%
Price Per Square Foot
$62
$61
-2%
Sales Price / List Price
93%
92%
-1%


Now let’s take a look at the YTD numbers to give us a little more perspective:

 
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%
May
929
1,163
928
-20%
$112,518
$125,374
$124,303
-1%
June
1,113
1,119
1,013
-9%
$115,289
$126,220
$123,904
-2%
July
1,145
744
897
21%
$114,838
$121,356
$127,258
5%
Aug.
1,063
676
941
39%
$110,872
$114,445
$117,898
3%
Sept.
1,091
781
804
3%
$109,715
$111,028
$126,416
14%
Oct.
1,110
659
743
13%
$104,331
$123,017
$111,193
-10%
Nov.
957
576

-100%
$111,091
$114,097

-100%
Dec.
802
671

-100%
$102,580
$117,631

-100%
 








Totals
11,286
9,719
7,796
-13.88%
$105,461
$116,503
$117,382
10.47%


And the price graph for the last 3 years:

 

Looks like we had a pretty nice increase in the number of homes sold (13%) over last year while the average sales price took a bit of a tumble for first time in a few months. YTD, the average sales price is just about the same as last year which is pretty darn remarkable in this market and a good sign that not only Hamilton County is posting some positive numbers. The number of foreclosures continues to be a real problem in Indianapolis with almost 40% of all sales falling under the “distressed” category. The absorption rate is relatively under control though with only an 8.13 months’ supply of homes on the market.

 

Related Links
Blog Tags

Be the first to comment on this blog entry!


Leave a Comment