Indianapolis Real Estate - Year End Report 2011

Posted by Mike Taylor on Thursday, January 26th, 2012 at 9:20pm

It that time to start looking at the December / End of year market reports. Let’s start with the Indianapolis real estate market and make our way to the suburbs over the next couple of days. So, without further ado, here are the numbers for the December sales for Indianapolis homes:

 
2010
2011
% Change
Active
N/A
5523
Homes Sold
710
719
1%
Average Selling Price
$116,975
$107,563
-8%
Days on Market
93
104
12%
Price Per Square Foot
$61
$64
5%
Sales Price / List Price
93%
94%
1%


And the month by month numbers for the year:

 
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. 957 610 667 9% $111,091 $115,321 $120,068 4%
Dec. 803 710 719 1% $102,624 $116,975 $107,563 -8%
Totals 11,287 9,792 9,182 -6.23% $105,464 $116,527 $116,808 0.24%

 

And as always our 3 year price chart:


The moral of story in the Indianapolis real estate for 2011 is pretty much flat with a trend towards growth in the number of homes sold. While the number of homes sold is actually down 6% over last year, this was due to the first part of 2011. As you can see from the month by month numbers the number of homes sold has seen an increase for the past 6 months. The average sales price is a bit more jumpy and sporadic but the average sales price for the year is unchanged since 2010. In this market and with 36% of all sales coming from “distressed” properties, you really can’t ask for too much more than that. There are certainly a ton of factors that contribute to the real estate market and economy as a whole but there are several reasons for optimism in the real estate market in Indianapolis for 2012. Stay tuned.