The real estate market in the Metropolitan Indianapolis area has slowed to a crawl over the last few months. In October there were 1970 sales; this month slowed again to 1610 sales, compared to 2219 sales in November 2007.
Active Homes:
- There are currently 19,118 active homes and condos for sale
- The average price of homes for sale is $201,767.
- The average days on market for active homes is 147 days
Sold Homes:
- There were 1610 homes and condos sold in November
- The average price of sold homes was $125,932
- The average days on market for sold homes was 92 days
The disparity in numbers between active and sold homes indicates there are not as many higher dollar value homes being sold, as well as some overpriced homes on the market. We also have a lot of investor activity in the market right now who are quickly buying lower priced bank owned homes. Of the 1610 homes sold this month, 394 of them sold for less than $50,000.
This type of activity skews the numbers for the entire area. I have provided links for local area market reports.
- Indianapolis Real Estate Report – November 2008
- Carmel Indiana Real Esate Report – November 2008
- Fishers Indiana Real Estate Report – November 2008
- Zionsville Indiana Real Estate Report – November 2008
- Brownsburg Indiana Real Estate Report – November 2008
- Avon Indiana Real Estate Report – November 2008
- Plainfield Indiana Real Estate Report – November 2008
- Eagle Creek Real Estate Report – November 2008
- Traders Point Real Estate Report – November 2008
- Danville Indiana Real Estate Report – Novemer 2008
Average days on market and absorption rate will vary by price range.
Click here for a neighborhood community report.
Keep track of sales in your Indianapolis neighborhood
Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Indianapolis homes which were sold between 11/1/2008 and 11/30/2008. Available homes were active on 1/31/2009. This data is reflective of homes which were listed on the Indianapolis BLC; private sales are not included. All information is believed to be accurate, but is not guaranteed.
Indianapolis Real Estate Blog, written by Paula Henry, an Indianapolis real estate agent and team leader of The Henry Group, at Red Door Real Estate, serving the Indianapolis and Indianapolis real estate markets.
Contact Paula – 317–605–4174
