Indianapolis Real Estate - Year End Report 2009
Posted by Mike Taylor on Wednesday, January 20th, 2010 at 9:21am.
Let’s take a look and see how the Indianapolis real estate market did in 2009. Before we dive into the yearend numbers let’s see how December turned out:
2008 |
2009 |
% Change |
|
| Active | N/A |
6844 |
|
| Homes Sold | 818 |
768 |
-6% |
| Average Selling Price | $90,113 |
$103,039 |
14% |
| Days on Market | 95 |
86 |
-9% |
| Price Per Square Foot | $50 |
$56 |
12% |
| Sales Price / List Price | 89% |
94% |
6% |
Now we can look at the yearend numbers for Indianapolis real estate for some perspective:
Number of Homes Sold |
|
Average Sales Price |
||||
2008 |
2009 |
% Change |
2008 |
2009 |
% Change |
|
|
|
|
|
|
|
|
|
| Jan. | 695 |
635 |
-8.63% |
$91,077 |
$84,050 |
-7.72% |
| Feb. | 727 |
651 |
-10.45% |
$96,370 |
$88,741 |
-7.92% |
| March | 1,017 |
855 |
-15.93% |
$101,714 |
$100,066 |
-1.62% |
| April | 1,092 |
882 |
-19.23% |
$105,429 |
$93,181 |
-11.62% |
| May | 1,157 |
871 |
-24.72% |
$113,581 |
$111,850 |
-1.52% |
| June | 1,149 |
1,093 |
-4.87% |
$118,775 |
$115,772 |
-2.53% |
| July | 1,137 |
1,027 |
-9.67% |
$115,731 |
$115,720 |
-0.01% |
| Aug. | 1,043 |
1,041 |
-0.19% |
$110,774 |
$110,393 |
-0.34% |
| Sept. | 1,027 |
1,017 |
-0.97% |
$108,874 |
$112,056 |
2.92% |
| Oct. | 828 |
1,081 |
30.56% |
$104,458 |
$104,785 |
0.31% |
| Nov. | 729 |
867 |
18.93% |
$96,296 |
$114,441 |
18.84% |
| Dec. | 818 |
768 |
-6.11% |
$90,113 |
$103,039 |
14.34% |
| Totals | 11,548 |
11,222 |
-2.82% |
$106,121 |
$105,575 |
-0.51% |
And my line charts to compare average sales price over the course of the year:
What I think is wild is that despite dramatic ups and downs the Indianapolis real estate market is actually quite stable. We only saw a 3% decrease in the number of homes sold and an ever so slight decrease in the average sales price when we look at the yearend numbers for 2008 vs. 2009. Considering the events that took place, the economy, and everything else; I think this is actually pretty good. The absorption rate is dropping and is currently at 7.4. Certainly higher than areas like Fishers, but overall very sustainable. Let’s hope 2010 brings some gains for the real estate market and some stability back to marketplace.
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