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Market Conditions for Indianapolis, Indiana
Reported by Bill Hacker, Broker, REALTOR & Certified Residential Specialist
Updated October 15, 2009.
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Current Market Rating: 2
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Buyer's
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Seller's
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Current Price Trend: 3
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Falling
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Rising
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IT'S ALMOST OFFICAL, THE MARKET HAS TURNED.
10/15/09 For the second month in a row, average and median prices increased slightly in the Indy metro area.
In August, while closings were still down vs. a year ago, sales price increased by over 1%. Also, almost as many sales pended (an accepted offer for future closing) as in 2008, indicating an upturn.
Preliminary numbers for September reflect that upturn, with almost as many closings as a year ago. And, sales price increased by over 2%. And, September pendings/future closings went up almost 10%!
The excess of inventory has continued to shrink, and is now down to around 8 months on average. That's well below recent double digits, and close to the 4 to 6 months considered normal. The higher price ranges are still in double digits, but overall everything is getting better.
The increased activity in the lower price ranges continues, as buyers take advantage of the first time homebuyers credit. Whether this credit is extended past the end of November may determine whether the market continues to recover, or looses some ground over the holidays. Stay tuned.
Bill Hacker
ZIP Codes: 46220, 46240, 46250, 46260.46256, 46268, 46280, 46290, 46032, 46033, 46038
Approximate Location Boundaries: Indianapolis north side (Pike, Washington & Lawrence Twp) & near north suburbs (Carmel, Fishers, Geist & Zionsville).
Location Characteristics: The north side townships include such well known and sought after areas as Meridian Kessler, Butler Tarkington, Broad Ripple, Meridian Hills, College Park, Eagle Creek Park & Reservoir, Nora, Keystone Crossing, Castleton & Fort Benjamin Harrison.
The north suburbs are also well know, affluent & sought after addresses. They including quaint Colonial Zionsville, the Geist Reservoir area & Carmel.
These areas offer dining, shopping & entertainment choices that are unmatched by the rest of Indianapolis. Not only a vast array of choices, but a concentration of the very finest dining & shoppping in central Indiana. Their public schools range from good, to among the best in the state. Neighborhoods are typically well maintained & safe. Life is good on Indy's north side.
For More Information:
View Market Conditions of other areas served by Bill Hacker
Navigate: Top > Indiana > Indianapolis
About Bill Hacker:
Let me put my years of experience and market knowledge to work for you. Meet me at www.billhacker.com to find out about my committments to my clients, and how my experience can benefit you.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
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