Indianapolis Real Estate News and Information from HomeToIndy.com

Avon Real Estate Update

2009-08-02T18:14:00-07:00

The first quarter sales started slowly in Avon with average prices declining early in the first quarter before heading back up. Inventory was also down from last year. This perfect combination made for a good first half of the year for home sales in Avon. Many homes had multiple offers in the last few months. The bank owned inventory is down and prices have leveled for the past few months with inventory remaining lower than last year. First Quarter 2009 If you would like to know what's going on in your neighborhood, let us know and we'll get right back with you.

Indianapolis Home Sales - 3rd Quarter - 2011

2011-11-29T19:44:00-07:00

The most recent real estate news indicates positive growth for the third quarter of 2011. As reported by National Association of Realtors, home sales in Indiana were up 18.6% over third quarter of 2010. When you break it down by city in the Central Indiana suburbs of Indianapolis, how did we do? Here's the stats: Avon Indiana +20.2% There were 208 home sales in Avon in 2011, compared to 166 sales in 2010. The average price of homes sold in Avon in the third quater of 2011 was $160,516. which was down 6.2% from last year for the same time period. The average home sold in Avon was three bedrooms, three baths and 2161 square foot. Average days on Market was 99 days. Search Avon Indiana Homes for Sale Brownsburg Indiana +20.7% Home sales in Brownsburg were up by 63 from 138 homes sold in 2010 to 174 homes sold in 2011. Home prices were stable with an average sales price of $172,043 in 2010 and $171,879. in 2011. The average home sold in Brownsburg was 3 bedrooms, 3 baths and 2101 square foot. Average days on market was 111 days. Search Brownsburg Indiana Homes Carmel Indiana +17.4% Carmel home sales were up in 2011 by 17.4%, with 414 homes sold in 2011 and 342 homes sold in 2010. The average price of homes sold was down 4.1%. from $353,144. in 2010 to $338,878. in 2011. Average days on market for 2011 was 95 days. The average home sold in Carmel was 4 bedrooms, 4 baths and 2818 square foot. Search Homes for Sale in Carmel Fishers Indiana +25.2% There were 409 homes sold in Fishers Indiana in 2011 with an average price of $230,992., compared to 306 homes sold in 2010 and an average sales price of $221,792 for an increase of 4.0% in sales price. The average home sold in Fishers had 4 bedrooms, 3 baths and 2370 square foot. Average days on market was 96. Search Fishers Indiana Homes for Sale Greenwood Indiana +26% Greenwood boasts a 26% increase in homes sold in 2011, with 316 homes, compared to 2010 sales of 234 homes. The average price of homes in Greenwood in 2011 was $166,158. lower by 2.8% than the $170,775. posted in 2010. The average Greenwood home sold was 3 bedrooms, 3 baths and 1998 square foot. Average days on market was 109. Greenwood Indiana Homes Indianapolis Indiana +15.6% Homes sales and home prices were up in Indianapolis for the 3rd quarter. There were 2656 homes sold in 2011 with an average sales price of $123,682. and 2243 homes sold in 2010 for an average sold price of $116,156. The average home sold in Indianapolis had 3 bedrooms, 2 baths and 1735 square foot. The average days on market was 99. Search Indianapolis Homes for Sale Noblesville Indiana +8.7% Homes sales were up slightly in Noblesville with 242 homes sold in 2010 and 265 in 2011. Sold price of homes in Noblesville was down by 4.9% from $189,836 in 2010 to $180,541. in 2011. The average home sold in Noblesville was 3 bedrooms, 3 baths and 2137 square foot, with an average days on market of 96 days. Search Homes for Sale in Noblesville Plainfield Indiana +27.2% There were 92 home sales in Plainfield in 2011, compared to 67 sales in 2010. The average price of homes sold in Plainfield in the third quater of 2011 was $142,839. which was down 5.0%% from last year for the same time period. The average home sold in Plainfield had three bedrooms, two baths and 1789 square foot. Average days on Market was 108 days. Search Plainfield Indiana Homes for Sale Westfield Indiana +22.2% There were 117 homes sold in Westfield in 2011, which is 22.2% more than the 91 homes sold in 2010. Average home prices were down by 20.9%, from $250,499. in 2010 to $223,414. in 2011. The average home sold in Westfield had 4 bedrooms, 3 baths with 2350 square foot and was on the market for an average of 93 days. Search Westfield Indiana Homes Zionsville Indiana +20.7% Zionsville home sales were up from 100 in 2010 to 126 in 2011. The average price was up by 10.2% from $339,345 in 2010 to $377,633 in 2011. The average home sold in Zionsville had 4 bedrooms, 4 baths with 2869 square foot. Average days on market was 96. Search Zionsville Indiana Homes for Sale Overall, there was a considerable increase in home sales for most of the cities and towns in Metro Indianapolis. If you would like to know the stats for your city, contact us and we'll be happy to send them to you. Disclosures: Average sales price does not indicate an areas value has declined. There may have been a few higher priced sales one month or a few lower priced sales in a time period. Every neighborhood is different, as are home values. Square footage does not include basement; only above grade square foot.

The Supply Of New Homes For Sale Just Dropped Off A Cliff

2010-06-02T02:29:00-07:00

The supply of newly-built homes for sales plummeted in April, a positive indicator for the Indianapolis housing market as we head into the summer months. It's no wonder that homebuilders are breaking new ground at the fastest clip in 2 years. At the current sales pace, the nation's complete supply of new homes would be sold in just 5 month's time. That's more than double the pace of a year ago. Also, as more good news, in terms of total housing units, the government reports that New Home Sales topped one half-million homes sold for the first time since May 2008. It's a similar spike as within the Existing Home Sales data released earlier this week. But before we declare the housing market 'repaired in full', we have to consider a few of the reasons why home sales are charting so strongly. The first reason is the federal homebuyer tax credit's April 30 expiration. In order to claim up to $8,000 in tax credits, home buyers must have been in mutual contract for a property before May 1. There is no doubt this contributed to a run-up in sales, especially among first-time home buyers. The second reason is that mortgage rates have remained exceptionally low, defying expert predictions. Low rates don't sell homes, but they do make monthly payments easier to manage for households torn between renting or buying. And, lastly, March and April's new home sales may have been buoyed by aggressive discounting on behalf of homebuilders. As compared to February 2010, April's average new home sale price was lower by 13 percent. That's a sharp drop in a short period of time. For now, though, homes are selling, supplies are dropping, and buyer interest is high. It's no wonder builder confidence is soaring.

February 2010 - Avon Indiana Market Statistics

2010-03-16T07:51:00-07:00

February proved to be a good month for home sales in Avon. The number of homes sold was up and the average days on market were down over last month. The average price point of homes sold was also down, though. This is to be expected when there were fewer number of homes sold and the fact there was a $1,000,000 home sold in Avon in January. There are currently 460 active homes for sale in Avon, which gives us an absorption rate of 11.0% or a 9 month supply of homes. January 2010 February 2010 February 2009 # Homes Sold 24 51 60 Days on Market 117 67 96 Average Price $194,375 $163,679 $159,043 The average home sold in Avon was a three bedroom, 2 bath with 2268 square foot. The highest price home sold was $329,000 for a five bedroom, 5 bath home with 4300 square feet in Prairie Manor. 14 homes or 27.4% of homes sold in February represented distressed property sales and 7 of the 14 were HUD owned homes. HUD owned homes typically sell for less, which affects the overall average price. The average price for a HUD home sold last month was $91,758. for a three bedroom, 2 bath home with 1572 square feet. The average for all distressed property homes was $120,915. for a three bedroom, two bath home with 2039 square feet. As the deadline for homebuyers to realize the tax credit gets closer, we see the demand for lower priced homes increase over the next month. ________________________________________________________________________________________ Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Search Current Homes for Sale in Avon Indianapolis 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 Realtor and team leader of The Home to Indy TEAM, serving the Indianapolis and Avon Indiana real estate markets.

Indianapolis Listed in the Top 10 Housing Markets

2010-02-25T09:35:00-07:00

Indianapolis Real Estate seems to always be making the news. Through the bad times and the good times, we are nationally known. When we ranked in the top ten for foreclosures, the nation knew. We are known as having the most affordable housing market in the nation for a city our size. Now, Forbes has named Indianapolis as one of the best housing markets in the nation. I'm not one to beleive everything I read, but I do like the metrics used for determining the results in this article. The results take into account many factors, including, housing affordability, foreclsoures and rising home prices. Indianapolis has long been known as having the most affordable housing - We are at 18 continuous quarters and running. When all the metrics are considered, our real estate market is looking better than most around the country. This report states our Housing Opportunity Index (HOI) is 95. Indianapolis has the highest HOI in the country, with decent housing accessible to 96% of families making the median income. In places like this the recession has weighed down home prices, but mortgage rates are still at historic lows, giving families a chance to get in on the ground floor. Francesca Levy, Forbes My monthly reports and observations about the condition of Indianapolis real estate market indicate we are starting to see homes sell quickly in specific price ranges. New home builders are starting to build spec homes again and the outlook is positive. Combined with the home buyer tax credit, the next few months will most likely fuel the start of a good year for home sales in Indianapolis. Then again.................if interest rates rise, we may see a stall in home sales. One thing for certain, there is not a lack of news available to report about real estate. Check out my upcoming market reports for your area to see how we are faring on a local level. Search Indianapolis Homes for Sale

Indianapolis 16th Cheapest Place to Live in US

2011-07-19T21:10:00-07:00

Indianapolis has long been known as having the most affordable housing in the nation. It's an old story, but one home buyers love. This week Bloomberg named Indianapolis as the 16th cheapest cities in the US. I prefer affordable over cheap, but either way, it's a great moniker. As it pertains to real estate, you really can get a lot of home for your money. Especially surprised at our home prices are those who are relocating to Indianapolis. Most of the time they can easily afford more home than they thought possible. One of the interesting numbers used in the Bloomberg report was the cost for an apartment vs. a house payment. A 2 bedroom apartment was $793.00 a month and the average house payment was $781.00. In representing a lot of first time home buyers, I find they are buying a lot more home for less than they pay in rent. However, when the national news writes, they usually look only at Indianapolis. I thought I would break it down to our most popular suburbs. The averages are based on home sales between 1/1/2011 - 6/30/2011. Indianapolis Homes - The average home in Indianapolis has 3 bedrooms, 2 baths, 1696 square foot and sold for $112,400. Avon Homes - The average home in Avon Indiana was a 3 bedroom, 3 bath with 2136 square foot and sold for $155,253. Brownsburg Homes - The average home in Brownsburg Indiana was a 3 bedroom, 3 bath with 2168 square foot and sold fro $168,485. Carmel Homes - The average home sold in Carmel Indiana had 4 bedrooms, 4 baths with 2730 square foot and sold for $318,879. Danville Homes - The average home sold in Danville Indiana had 3 bedrooms, 2 baths with 1872 square foot and sold for $142,594. Fishers Homes - The average home sold in Fishers Indiana had 3 bedrooms, 3 baths with 2237 square foot and sold for $208,896. Greenwood Homes - The average home sold in Greenwood Indiana had 3 bedrooms, 3 baths with 1997 square foot and sold for $160,408. Noblesville Homes - The average home sold in Noblesville Indiana had 3 bedrooms, 3 baths with 2172 square foot and sold for $179,977. Plainfield Homes - The average home sold in Plainfield Indiana was a 3 bedroom, 2 bath with 1922 square foot and sold for $150,104. Westfield Homes - The average home sold in Westfield Indiana was a 4 bedroom, 3 bath with 2218 square foot and sold for $205,101. Zionsville Homes - The average home sold in Zionsville Indiana was a 4 bedroom, 4 bath with 2751 square foot and sold for $329,338. * square footage only includes above grade and does not include basements * bathrooms indicate bathroom spaces and could be 1/2 bath

Pending Home Sales Predicts A Stronger Spring Market

2010-02-03T05:45:00-07:00

The Pending Home Sales Index rose slightly in December, climbing 1 percent from November. A Pending Home Sale is a home that is under contract to sell, but not yet sold. It's a figure compiled by the National Association of Realtors® using sales data from over 100 regional listing services and more than 60 large brokerages around the country. Because each pending sale is a true measure of sales activity, the Pending Home Sales Index is purported to be the most reliable forward-looking indicator for housing. Recent data supports this hypothesis. After Pending Home Sales plunged 16 percent in November, Existing Home Sales fell by 17 percent in December. Based on the most recent Pending Sales Index, therefore, we can expect January's closed sales to be similarly level. For home buyers in Indianapolis, this is all a bit of good news. Home prices are based on the supply-and-demand balance that exists between buyers and sellers. When buyers outnumber sellers, like they did through most of 2009, home supplies dip and, in fact, the national home inventory nearly halved during the 12 months ending November 2009. With fewer homes for sale, multiple-offer situations were almost commonplace and home values rose as result. Activity has since slowed, however, and fewer buyers are in today's market. The supply-and-demand equation has shifted back some. In December, home supplies rose for the first time in 7 months and January will likely show the same. The net result: Home buyers have more homes from which to choose and that can create negotiation leverage for better prices and better concessions. With mortgage rates still low and a looming deadline on the homebuyer's tax credit, market activity should be strong between now and April. Take your time and bid right. And when you're ready, be ready. The best deals likely won't last.

Home Values Rose In November 2009 By Another 0.7 Percent

2010-01-29T05:46:00-07:00

Reporting on a two-month lag, the government said home values rose 0.7 percent in November. National home prices are at their highest point since February 2009. But before we look too much into the FHFA's Home Price Index, it's important that we're cognizant of its shortcomings; the most important of which is its lack of real-time reporting. According to the National Association of Realtors™, 80% of purchases close within 60 days. As a result, because of its two-month delay, the Home Price Index report actually trails today's market data by an entire sales cycle. This is one reason why home values appear to be rising even while new data shows that both Existing Home Sales and New Home Sales fell flat last month. The home valuation report is using data from November; the sales reports are using data from December. The Home Price Index is a trailing indicator and next month, as the Spring Market gets underway, the government will be reporting data from the holidays. The same is true for the Case-Shiller Index. It, too, operates on a 2-month lag. All of that said, however, long-term trends do matter in housing and the Home Price Index has shown consistent improvement over the last 10 months. In many markets, home sales are up, home supplies are down, and values have increased. This trend should continue into the early part of 2010, at least. If you're wondering whether now is a good time to buy a home in Indianapolis , consider low prices, cheap mortgages and an available tax credit as three good incentives. By May, none of them will likely be available.

Housing Starts Soar To 6-Month High In January... Or Do They?

2010-02-19T05:45:00-07:00

Sometimes, headlines for housing can be misleading and this week gave us a terrific example. On Wednesday, the Commerce Department released its Housing Starts data for January 2010. The data showed starts at a 6-month high. A “Housing Start” is a privately-owned home on which construction has started. Headlines on the Housing Starts story included: U.S. Housing Starts Hit 6-Month High (Reuters) U.S. Economy Receives Home Building Boost (Shepparton) Housing Starts Post Sharp Rebound (ABC) Based to the headlines, the housing market looks poised for rapid growth through the Spring Market. The real story, though, is that although Housing Starts increased by close to 3 percent last month, the growth is mostly attributed to buildings with 5 or more units. This includes apartments and condominiums -- a sector of the housing market that's notoriously volatile. If we isolate Housing Starts for single-family homes only, we see that starts grew by just 7,000 units last month and have failed to break a range since June 2009. January's tally is slightly below the 8-month average. Perhaps more interesting than the Housing Starts, though, is the Commerce Department's accompanying data for Housing Permits. After a 5-month plateau that ended in November, Housing Permits posted multi-year highs for the second straight month. According to the Census Bureau, 82% of homes start construction within 60 days of permit-issuance. One reason permits are up is that home builders want to capitalize on the federal homebuyer tax credit's dwindling time frame. Sales are expected to spike in March and April and more homes will come online to deal with that demand. Home buyers in Indianapolis should shop carefully, but with an eye on the clock. As the tax credit's April 30, 2010 deadline approaches, competition for homes may be fierce.

Existing Home Sales Flatten And Point To A Much Better Spring

2010-03-24T04:46:00-07:00

As expected, Existing Home Sales fell in February, slipping 30,000 units versus January's numbers. It's the 4th straight month in which Existing Home Sales were lower, month-over-month. An 'existing' home is one that is previously owned and lived-in (i.e. not new construction). Existing Home Sales peaked in November 2009, just as the First-Time Home Buyer Tax Credit was set to expire. Immediately thereafter, according to the National Association of Realtors®, monthly sales plunged 17 percent in December, then another 7 percent in January. Comparatively, February's dip is a modest 0.6 percent and is more in line with the pre-tax-credit Existing Home Sales trend. The real estate market is rediscovering its normal. But 'normal' may not last for long. When the federal home buyer's tax program was extended last year, the new rules stated that home buyers must be under contract for their new, respective homes on, or before, April 30, 2010 in order to claim up to $8,000 in federal money. That deadline is approaching and many markets -- Indianapolis included -- are experiencing a surge in buyer traffic as April 30 nears. The Existing Home Sales data doesn't reflect this new demand, nor the number of new contracts written. It only accounts for home closings and, in February, closings were down. For today's buyers, the market looks favorable. The federal tax credit is in place, mortgage rates stubbornly stick near all-time lows, and home prices are staying in check. Existing Home Sales should gain through March and April, pressuring home prices higher. And, by the time the press reports the gains, the best deals in the city may already be gone. Consider acting sooner rather than later.

The Home Price Index Shows Some Regions Up, Some Regions Down

2010-02-26T05:45:00-07:00

Earlier this week, the private-sector Case-Shiller Index showed home prices slightly lower between November and December. Thursday, the public-sector Home Price Index showed the same. Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in December. And that's an average, of course. Some regions performed well in December as compared to November, others didn't. Values in the Middle Atlantic states improved slightly Values in New England were essentially unchanged Values in the Mountain states sagged, down 3.5% These aren't just footnotes. They're an important piece toward understanding what national real estate statistics really mean. In short, 'national statistics' are just a compilation of a bunch of local statistics. For example, if we dig deeper into the FHFA Home Price Index 70-page report, we find that cities like Terre Haute, IN, Buffalo, NY, and Amarillo, TX posted year-over-year home price gains. You won't see that in a 'national' report. Furthermore, it's a sure bet that those same cities, you could find neighborhoods that are thriving, and others that are not. Just because the city shows higher home values overall, it won't necessarily be the case for every home in the city. Every street in every neighborhood of every town in America has its own 'local real estate market' and, in the end, that's what should be most important to today's buyers and sellers. National data helps identify trends and shape government policy but, to the layperson, it's somewhat irrelevant. So, when you need to know whether your home in Indianapolis is gaining or losing value, you can't look at the national data. You have to look at your block -- what's selling and not selling -- and start your valuations from there. Find out what homes in your neighborhood are selling for.

Hendricks County Market Report

2007-12-16T05:51:00-07:00

Real Estate Statistics Hendricks County - November 2007 The differences beween 2006 and 2007 numbers speak for themselves, The one offsetting value is the 1 property sold in 2007 with 453 days on market. A number that big and so far off of the normals will distort the true average of Days On Market. If we take that one number and add it’s value to the year 2006, it changes the average days on market for 2006 to 93.9. Average days on market and absorption rate will vary by price range. Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Indianapolis homes which were sold between 11/1/2007 and 11/30/2007. 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 Realtor and team leader of The Home to Indy Team, at Keller Williams Realty, serving the Indianapolis and Hendricks County real estate markets. Call Paula - 317–605–4174

Avon Indiana Real Estate Market - November 2009

2009-12-05T17:27:00-07:00

Avon Indiana Real Estate Market Report Comparing the last two years data for Avon Indiana for the first three quarters reveals both the number of homes sold and the average price of homes sold was down year to year. The anomaly was the month of November, which I attribute to the fact many first time home buyers already had closings scheduled before the credit was extended. I could almost contribute the lower price point in November to the first time home buyer credit, except the home prices were down last year in November, as well. When we consider the number of sales in November was up by 75% over last year, the average price point may not be as dismal as it first appears. Considering the amount of first time home buyers in the market and the affordability of homes in Avon, it's expected there would be more lower priced homes sold in November 2009, forcing the average price point down. The fact it compares with last years sales is actually good news. The average days on market have held fairly steady throughout the last two years. Copyright © 2009 by Paula Henry, All Rights Reserved. *Avon Indiana Real Estate Market Report - November 2009* __________________________________________________________________________ Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Indianapolis 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 Home to Indy Team at Keller Williams Realty. Call Paula: 317–605–4174

Brownsburg Real Estate Report - July 2008

2008-08-20T13:56:00-07:00

For the month of July, there were 56 homes sold and closed in Brownsburg, which is up by six homes over June. The highest price home was $309,000. The lowest priced home sold was $59,342. The average Brownsburg home sold was a three bedroom, two bath with 1836 square feet. The average Days on Market for homes sold was 82 days, down from 128 days last month. There are currently 432 homes available for sale in Brownsburg, which gives us an absorption rate of 7.71 months. Search all Brownsburg Homes for Sale Average days on market and absorption rate will vary by price range. Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Indianapolis homes which were sold between 7/1/2008 and 7/31/2008. 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 Realtor and team leader of The Home to Indy Team at Keller Williams Realty, serving the Indianapolis and Brownsburg Indiana real estate markets. Call Paula - 317–605–4174

Current Pending Home Sales

2011-04-10T22:10:00-07:00

Pending Homes Sales provide us with up to the minute statistics of what is happening in the market right now. Pending home sales help determine the rate of activity in the home sales market and represent the current expected sales for the next month. Since contracts on homes do not always close, the sold home data is not the same as pending sales. Lets look at the current market statistics for pending home sales: Avon - There are currently 445 homes for sale in Avon Indiana, with prices from $54,000 - $1,149,000. There are currently 113 pending sales in Avon, priced from $42,400 - $489,000. Brownsburg - Currently there are 361 homes for sale in Brownsburg, from $44,900 - $1,300,000 and 75 pending sales ranging in price from $49,500 - $400,000. Carmel - Available active Homes for sale in Carmel are 829, ranging in price from $54,900 - $7,700,000. There were 149 pending home sales, ranging in price from $104,900 - $995,000. Danville - Of the 104 listed homes for sale in Danville, priced from $34,900 - $1,100,000, there are 17 home sales pending, from $29,900 - $274,900. Fishers - Fishers homes for sale range in price from $52,650 - $5,500,000 and there are 766 active listings. Pending homes equal 208 sales, priced from $64,900 - $1,749,900. Greenwood - Pending homes range in price from $38,700 - $429,900 with 121 sales ending. There are currently 738 active homes for sale in Greenwood, priced from $34,900 - $2,899,900. Noblesville - There are 632 active homes for sale in Noblesville, priced from $32,900 - $3,900,000, with 135 pending sales ranging in price from $39,900 - $750,000. Westfield - The town of Westfield has 57 homes pending, ranging in price from $64,900 - $840,000, with another 242 Westfield homes for sale, priced from $73,800 - $1,350,000. Zionsville - There are currently 291 Zionsville Homes for Sale, priced from $80,000 - $4,800,000 and 49 pending sales ranging from $45,000 - $1,150,000 This is the start of the busiest time of year and it is evident in the number of pending homes. If you have questions about home sales in your neighborhood, contact us and we'll be happy to send you the information for current activity in your market. Or click the market report and we'll send you a comaparative market analysis for your home and neighborhood sales.