Indianapolis Real Estate Market Report - January 2009
Real Estate sales in Indianapolis for January were significantly less than the number of homes sold in December. Blame it on the cold, the snow, the ice - or the normal winter slow down - there were 652 homes sold in Marion County compared to 803 last month.
The good news is, the percentage of foreclosures and short sales were less. Distressed property sales represented 42.9% of the sales in January, down from over 50% in December.
Maybe it's a sign we are seeing the foreclosure and bank owned home inventory start to dwindle.
Somehow, I think not. We will see more bank owned homes when the ban on foreclosures is lifted.
|
Township |
Active |
Sold |
Average Price |
Highest Price |
|
Beech Grove |
40 |
13 |
$62,319 |
$143,600 |
|
Center NE |
565 |
66 |
$49,952 |
$532,000 |
|
Center NW |
99 |
9 |
$15,450 |
$54,000 |
|
Center SE |
243 |
35 |
$30,970 |
$280,000 |
|
Center SW |
36 |
4 |
$46,233 |
$147,000 |
|
Decatur |
104 |
29 |
$71,009 |
$114,900 |
|
Franklin |
233 |
43 |
$109,829 |
$328,652 |
|
Lawrence |
478 |
96 |
$122,484 |
$728,125 |
|
Perry |
309 |
58 |
$92,171 |
$254,000 |
|
Pike |
336 |
66 |
$117,415 |
$685,000 |
|
Speedway |
29 |
1 |
$120,000 |
$120,000 |
|
Warren |
495 |
79 |
$56,913 |
$185,000 |
|
Washington |
626 |
60 |
$135,064 |
$800,000 |
|
Wayne |
515 |
93 |
444,626 |
$270,000 |
The highest priced home sold in January was a five bedroom, six bath home in Meridian Hills, situated on a one acre lot with a finished basement. The home sold for $800,000 after only 5 days on the market. The lowest priced home sold in Marion County in January was a bank owned two bedroom, one bath home at 26th and Martin Luther King, which sold for $2300.00. 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 1/1/2009 and 1/31/2009. Available homes were active on 1/31/2009. 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 real estate agent and team leader of The Home to Indy Team at Keller Williams Realty, serving the Indianapolis and Indianapolis real estate markets.
Contact Paula – 317–605–4174
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