<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.reddoorindy.com/blog/tags/indianapolis-real-estate/rss/" rel="self" type="application/rss+xml" />
        <title>Indianapolis Real Estate Blog</title>
        <link>http://www.reddoorindy.com/blog/tags/indianapolis-real-estate/</link>
        <description>A local Indianapolis real estate blog by Red Door Real Estate keeping you up to date on all Indianapolis and surrounding areas real estate news.</description>
        <item>
            <guid>http://www.reddoorindy.com/blog/steinmeier-subdivision-indianapolis.html</guid>
            <link>http://www.reddoorindy.com/blog/steinmeier-subdivision-indianapolis.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Steinmeier Subdivision Indianapolis</title>
            <description> <![CDATA[ 
Steinmeier subdivision is a popular neighborhood located in Washington Township Indianapolis at the intersection of Allisionville Road and 71st Street on the citys northeast side.&nbsp; The subdivision of Steinmeier consists of approximately 500 homes and range in price from the low 100s to the 300s.&nbsp; Approximately half of all homes in the Steinmeier subdivision are ranch homes while the majority are two story homes. &nbsp;

Steinmeier homes vary greatly not only price and size but also in terms of the size of their home sites.&nbsp; The majority of homes in the Steinmeier subdivision in Indianapolis will have a decent sized yard but some are on smaller lots while some of homes boast almost a full acre home site.&nbsp; The homes were built in the 1960s, 1970s, and 1980s.

While homes in the Steinmeier subdivision Indianapolis do offer a large variety the &ldquo;typical&rdquo; home would be a two story home price around $200,000 and 2300 square feet on &frac14;-1/2 acre lot with mature trees.&nbsp; One thing is for sure, if you are looking for an affordable non cookie cutter home in a good area of Indianapolis, Steinmeier subdivision is definitely worth a consideration. &nbsp;

&nbsp;

Steinmeier Homes for Sale Indianapolis 
 ]]> </description>
            <pubDate>Mon, 26 Mar 2012 13:07:51 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/downtown-condos-the-packard-2-hot-buys.html</guid>
            <link>http://www.reddoorindy.com/blog/downtown-condos-the-packard-2-hot-buys.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Downtown Condos - The Packard - 2 Hot Buys</title>
            <description> <![CDATA[ 
This will just be a quickie, but I wanted to make my readers aware of two amazing opportunities in The Packard Condos downtown Indianapolis.&nbsp; One is a bank owned condo and the other is just an individual seller that appears to want to move the condo quickly.&nbsp; Both are listed far below market value at $150,000.&nbsp; Here is a quick glance at The Packard active, pending and sold since 1/1/2010:

While&nbsp; they are still active, you can view these two listings here:

&nbsp;

http://www.reddoorindy.com/idx/mibor/21159273/register.html

http://www.reddoorindy.com/idx/mibor/21156311/register.html

&nbsp;

As you can see, similar units are selling for at least 50K more than both of these are asking.&nbsp; You will need to act quickly I am quite sure both of these will move fast.&nbsp; Contact me at 317-362-4064 if you would like to set up a showing for these units or any other condos for sale in Indianapolis. &nbsp;

&nbsp;

&nbsp;
 ]]> </description>
            <pubDate>Fri, 03 Feb 2012 08:01:18 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis Real Estate - Year End Report 2011</title>
            <description> <![CDATA[ 
It that time to start looking at the December / End of year market reports.  Lets 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:



  
    
      
&nbsp;

      

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:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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%

    
  



&nbsp;


  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 &ldquo;distressed&rdquo; properties, you really cant 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.

 ]]> </description>
            <pubDate>Thu, 26 Jan 2012 21:20:53 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indinapolis-real-estate-market-report-november-20111.html</guid>
            <link>http://www.reddoorindy.com/blog/indinapolis-real-estate-market-report-november-20111.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indinapolis Real Estate Market Report November 2011</title>
            <description> <![CDATA[ 
It is time to see how November treated the Indianapolis real estate market in 2011.  Lets take a look at the detailed number for the month of November 2010 vs 2011:



  
    
      
&nbsp;

      

2010


      

2011


      

% Change


    
    
      
Active

      
N/A

      
6074

      


    
    
      
Homes Sold

      
610

      
667

      
9%

    
    
      
Average Selling Price

      
$115,321

      
$120,068 

      
4%

    
    
      
Days on Market

      
91 

      
101 

      
11%

    
    
      
Price Per Square Foot

      
$62 

      
$63 

      
2%

    
    
      
Sales Price / List Price 

      
93%

      
95%

      
2%

    
  




And our YTD numbers:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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.

      
802

      
671

      


      
-100%

      
$102,580

      
$117,631

      


      
-100%

    
    
      


      


      


      


      


      


      


      


      


    
    
      
Totals

      
11,286

      
9,753

      
8,463

      
-13.23%

      
$105,461

      
$116,571

      
$117,593

      
0.88%

    
  




And the 3 year price graph:






  The Indianapolis real estate market has actually been on quite a tear the past few months.  The number of homes sold is up again and the average sales price is up again.  The year started off rough with some pretty terrible decreased in the number of homes sold, but has seen an increase in activity as of late.  The average sales price has been up for the past several months but remain relatively unchanged year over year.   Overall, not a bad report for Indianapolis home this month.  Lets hope the trend continues.

 ]]> </description>
            <pubDate>Tue, 06 Dec 2011 08:23:08 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indinapolis-real-estate-market-report-november-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/indinapolis-real-estate-market-report-november-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indinapolis Real Estate Market Report November 2011</title>
            <description> <![CDATA[ 
It is time to see how November treated the Indianapolis real estate market in 2011.  Lets take a look at the detailed number for the month of November 2010 vs 2011:



  
    
      
&nbsp;

      

2010


      

2011


      

% Change


    
    
      
Active

      
N/A

      
6074

      


    
    
      
Homes Sold

      
610

      
667

      
9%

    
    
      
Average Selling Price

      
$115,321

      
$120,068 

      
4%

    
    
      
Days on Market

      
91 

      
101 

      
11%

    
    
      
Price Per Square Foot

      
$62 

      
$63 

      
2%

    
    
      
Sales Price / List Price 

      
93%

      
95%

      
2%

    
  




And our YTD numbers:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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.

      
802

      
671

      


      
-100%

      
$102,580

      
$117,631

      


      
-100%

    
    
      


      


      


      


      


      


      


      


      


    
    
      
Totals

      
11,286

      
9,753

      
8,463

      
-13.23%

      
$105,461

      
$116,571

      
$117,593

      
0.88%

    
  




And the 3 year price graph:






  The Indianapolis real estate market has actually been on quite a tear the past few months.  The number of homes sold is up again and the average sales price is up again.  The year started off rough with some pretty terrible decreased in the number of homes sold, but has seen an increase in activity as of late.  The average sales price has been up for the past several months but remain relatively unchanged year over year.   Overall, not a bad report for Indianapolis home this month.  Lets hope the trend continues.

 ]]> </description>
            <pubDate>Tue, 06 Dec 2011 08:22:56 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-real-estate-market-report-october-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-real-estate-market-report-october-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis Real Estate - Market Report October 2011</title>
            <description> <![CDATA[ 
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.  Lets take a look at the month of October 2010 vs. 2011 first:



  
    
      
&nbsp;

      

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 lets take a look at the YTD numbers to give us a little more perspective:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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%


    
    
      
&nbsp;

      




      




      




      




      




      




      




      




    
    
      
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:





&nbsp;


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 &ldquo;distressed&rdquo; category.  The absorption rate is relatively under control though with only an 8.13 months supply of homes on the market. 



&nbsp;

 ]]> </description>
            <pubDate>Tue, 15 Nov 2011 11:15:10 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-homes-market-report-april-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-homes-market-report-april-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis homes - Market Report - April 2011</title>
            <description> <![CDATA[ 
Time to look at how the Indianapolis real estate market did in April 2011:.



  
    
      
&nbsp;

      

2010


      

2011


      

% Change


    
    
      
Active

      
N/A

      
9060

      
&nbsp;

    
    
      
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%


    
  



&nbsp;


The YTD numbers:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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:





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. 


 ]]> </description>
            <pubDate>Fri, 06 May 2011 09:38:31 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-homes-market-report-march-2011.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-homes-market-report-march-2011.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis Homes - Market Report March 2011</title>
            <description> <![CDATA[ 
Time to take a look at the number for Indianapolis homes for  March 2011.&nbsp;&nbsp; The first quarter is behind  us and it is a good time to assess the market and how it might be trending for  2011.&nbsp; As I have mentioned before, this  year is going to prove quite difficult because of the first time home buyer tax  credit having such a huge affect on the market last year.&nbsp; That being said, lets look at the number for  Indianapolis for March:



  
    
      
&nbsp;

      

2009


      

2010


      

% Change


    
    
      
Active

      

N/A


      

6864


      




    
    
      
Homes Sold

      

999


      

697


      

-30%


    
    
      
Average Selling Price

      

$111,719


      

$98,987


      

-11%


    
    
      
Days on Market

      

88


      

99


      

13%


    
    
      
Price Per Square Foot

      

$31


      

$56


      

-8%


    
    
      
Sales Price / List Price 

      

93%


      

94%


      

1%


    
  



&nbsp;


Here are YTD numbers for 3 years running:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      
2011

      

% Change


      

2009


      

2010


      
2011

      

% Change


    
    
      
&nbsp;

      



          

      



          

      
&nbsp;

      



          

      



          

      



          

      
&nbsp;

      



          

    
    
      
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%


    
    
      
&nbsp;

      




      




      
&nbsp;

      




      




      




      
&nbsp;

      




    
  



&nbsp;


  And an average price chart:





 The trend of fewer homes sold is very much expected and is  seeing throughout the area and the country.&nbsp;  What is a bit concerning is the drop in price.&nbsp; We have seen two straight months with a drop  in price.&nbsp; What we also saw this month  was a huge increase in sales activity of distressed property.&nbsp; Approximately 47% of the homes sold in  Indianapolis last month were bank owned or short sales.&nbsp; This is undoubtedly dragging down the prices  in Indy.&nbsp; I have a post about the shadow  inventory for our area which does not bode well for Indy that I will share  soon.


  Overall, Indianapolis is not off to a great 2011.&nbsp; We have a good amount of foreclosures to work  through before we will see a rebound in prices.&nbsp;  The good news, it is a great time to purchase something.&nbsp; Please see our downtown Indianapolis condos for sale   and Lawrence Township homes for sale pages to view some of the great deals  available.&nbsp;

 ]]> </description>
            <pubDate>Tue, 05 Apr 2011 11:43:22 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2010.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2010.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis Real Estate Year End Report 2010</title>
            <description> <![CDATA[ 
The time has come to take a look at the year of 2009 and see  how the Indianapolis real estate market performed.&nbsp; Over the next few days, I will be posting the  year end reports for most of the Indianapolis market.&nbsp; Today, we start with Indianapolis itself.


  Indianapolis has typically not performed as well as the  suburbs and has been plagued with more foreclosures than the suburbs as  well.&nbsp; However, despite this Indianapolis  has actually posted some great numbers for 2009 indicating a recovery may  already be well underway.&nbsp; 


Let  s take a look at the month of December in detail:



  
    
      
&nbsp;

      

2009


      

2010


      

% Change


    
    
      
Active

      

N/A


      

6603


      




    
    
      
Homes Sold

      

802


      

671


      

-16%


    
    
      
Average Selling Price

      

$102,580 


      

$117,631 


      

15%


    
    
      
Days on Market

      

85 


      

90 


      

6%


    
    
      
Price Per Square Foot

      

$56 


      

$62 


      

11%


    
    
      
Sales Price / List Price 

      

94%


      

93%


      

-1%


    
  



&nbsp;


Now lets look at the entire years numbers:



  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2009


      

2010


      

% Change


      

2009


      

2010


      

% Change


    
    
      
&nbsp;

      



          

      



          

      



          

      



          

      



          

      



          

    
    
      
Jan.

      
 639

      
563

      
-12%

      
$84,007

      
$91,072

      
8%

    
    
      
Feb.

      

657


      

669


      

2%


      

$88,284


      

$113,889


      

29%


    
    
      
March

      

872


      

995


      

14%


      

$99,974


      

$111,683


      

12%


    
    
      
April

      

908


      

1,103


      

21%


      

$93,714


      

$114,745


      

22%


    
    
      
May

      

929


      

1,163


      

25%


      

$112,518


      

$125,374


      

11%


    
    
      
June

      

1,113


      

1,119


      

1%


      

$115,289


      

$126,220


      

9%


    
    
      
July

      

1,145


      

744


      

-35%


      

$114,838


      

$121,356


      

6%


    
    
      
Aug.

      

1,063


      

676


      

-36%


      

$110,872


      

$114,445


      

3%


    
    
      
Sept.

      

1,091


      

781


      

-28%


      

$109,715


      

$111,028


      

1%


    
    
      
Oct.

      

1,110


      

654


      

-41%


      

$104,331


      

$123,560


      

18%


    
    
      
Nov.

      

957


      

576


      

-40%


      

$111,091


      

$114,097


      

3%


    
    
      
Dec.

      

802


      

671


      

-16%


      

$102,580


      

$117,631


      

15%


    
    
      
&nbsp;

      




      




      




      




      




      




    
    
      
Totals

      

11,286


      

9,714


      

-13.93%


      

$103,934


      

$115,425


      

11.06%


    
  




  And for good measure, lets take a look at the average sales  price in a line chart:





  The number of homes sold is still down quite significantly,  but the average sales price is actually up 11% in the Indianapolis real estate  market!&nbsp; This is huge.&nbsp; Take a look at the average sales price for  every month: every single month has posted a positive gain this year.&nbsp; To me, this is a very good indicator that we  may have turned the corner and now the only thing needed to mount a full scale  recovery is a little more demand.&nbsp; 


  Who knows what 2011 will hold for the Indianapolis real  estate market, but prices do appear to on the rise.&nbsp; The current projection is for Indianapolis to  continue to suffer from a large percentage of foreclosures.&nbsp; If prices continue to increase, the impact of  foreclosures could be lessened in 2011 as less and less people are underwater.&nbsp; Stay tuned for updated market reports as 2011  progresses.

 ]]> </description>
            <pubDate>Mon, 10 Jan 2011 08:07:14 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2009.html</guid>
            <link>http://www.reddoorindy.com/blog/indianapolis-real-estate-year-end-report-2009.html</link>
            <author>mtaylor@reddoorindy.com (Mike Taylor)</author>
            <title>Indianapolis Real Estate - Year End Report 2009</title>
            <description> <![CDATA[ 

  Lets take a look and see how the Indianapolis real estate market did in 2009.  Before we dive into the yearend numbers lets see how December turned out:



  
    
      
&nbsp;

      

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%


    
  



&nbsp;


Now we can look at the yearend numbers for Indianapolis real estate for some perspective:




  
    
      
&nbsp;

      

Number of Homes Sold 


      



          

      

Average Sales Price 


      
&nbsp;

    
    
      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

      
&nbsp;

    
    
      
&nbsp;

      

2008


      

2009


      

% Change


      

2008


      

2009


      

% Change


    
    
      
&nbsp;

      



          

      



          

      



          

      



          

      



          

      



          

    
    
      
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%


    
    
      
&nbsp;

      




      




      




      




      




      




    
    
      
Totals

      

11,548


      

11,222


      

-2.82%


      

$106,121


      

$105,575


      

-0.51%


    
  



&nbsp;


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.  Lets hope 2010 brings some gains for the real estate market and some stability back to marketplace.

 ]]> </description>
            <pubDate>Wed, 20 Jan 2010 09:21:36 -0500</pubDate>
                    </item>
    </channel>
</rss>