Fishers Home Sales Up for 4th Consecutive Month

Real Estate Report by m.s.Woods Real Estate, LLC. –  April, 2010 marked the fourth consecutive month that home sales rose in Fishers, Indiana. After taking a nose dive to just 62 sales in December of 2009 the total number of homes sold has risen steadily each month, reaching a total of 159 in April. This is a 22.3-percent increase from last April’s total of 121 sales. But home sales wasn’t the only metric that rose in April; the total number of pending sales also rose 3.2 percent, from 154 in March to 159 in April. This figure is down just 1.9 percent from last April, when there were 162 pending sales. The total number of Fishers homes for sale rose just slightly, from 667 listings in March to 678 in April, an increase of 1.6 percent. Compared to April of 2009 this is actually a decrease of 0.9 percent

In further good news for the Fishers real estate market the time spent on market dropped 19.5 percent from the previous month, with homes spending an average of just 66 days on market compared to 82 in March. This is a 31-percent decrease from the average time spent on market last April and a 4-percent decrease from the most recent 12-month average of 69 days on market.

Over the 15 months leading up to April the sold-list differential had never dropped below 95 percent and never risen above 97 percent. The month of April stayed true to this pattern with homes selling for an average of 97 percent of list price. The 12-month average sold-list differential is 96.33.

Some other pertinent stats:

  • At $76, average price per square foot remained unchanged not only from the previous month but from the 12-month average as well.
  • The average ‘sold’ price was $208,000. The 12-month average ‘sold’ price through April, 2010 was $209,920.
  • The absorption rates based on closed and pending sales both increased in April, from 19.5 to 21.8 percent for closed sales and from 23.1 to 23.5 percent for pending sales.