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Fishers Real Estate Report

Real Estate Report by m.s.Woods Real Estate, LLC. – While not quite as robust as last year’s figures this same time of year, the Fishers real estate market does appear to be headed in the right direction, at least in terms of total home sales and total pending sales. There was a pronounced 36.1-percent increase in the total number of homes sold, with 98 sales recorded in March compared to 72 the previous month. There were also 8.6 percent more pending sales waiting in the wings, with 126 in March versus 116 in February.

Indeed, the steady rise in inventory that began in January, 2010 continued in March as the number of listings increased 9.7 percent for a total of 667 Fishers homes for sale.

The average time spent on market, which from May, 2009 through January, 2010had averaged 66 days, suddenly rose to 87 days in February and then to 99 days in March. In fact, March’s total time spent on market represents a 15-month high.

A few other pertinent stats:

Over the past 15 months the sold-list differential has never dipped below 94 percent in Fishers, Indiana. At 96 percent in March it remained unchanged from the previous month and just 1 percent below March of 2009.

Buyers paid an average of $75 per square foot compared to $73 in February. The most recent 12-month average cost per square foot is $75.90.

Buyers paid an average of $75 per square foot compared to $73 in February. The most recent 12-month average cost per square foot is $75.90.

The average ‘sold’ price of $205,000 was up 5.6 percent from over the previous month’s average of $194,000 and up 12 percent over last March’s average of $186,000.

The absorption rate based on closed sales rose 2.9 percent from February, ending at 14.7 percent on the month. All in all, things appear to be on track for a decent summer real estate market in Fishers, Indiana.