Market Reports  

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 ...

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...

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....

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 ...

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...

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.

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.  ...

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,...

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 (...

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 ...

 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...

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...

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.

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 ...

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.