February 2010 - Avon Indiana Market Statistics

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.

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.

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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 Realtor and team leader of The Home to Indy TEAM, serving the Indianapolis and Avon Indiana real estate markets.