Indianapolis Real Estate Market Report - October 2008
There are currently 8553 homes for sale in Indianapolis in Marion County. This is down from lasts months 9138 active properties. There were 810 sold properties, compared to 920 last month.
The largest number of sales were in Wayne and Washington Townships.
|
Township |
Active |
Sold |
Average Price |
Highest Price |
|
|
|
|
|
|
|
Wayne |
992 |
118 |
$54,579 |
$183,000 |
|
Pike |
743 |
82 |
$121,705 |
$635,000 |
|
Washington |
1253 |
113 |
$169,009 |
$600,000 |
|
Lawrence |
1063 |
100 |
$153,020 |
$1,165,000 |
|
Warren |
1042 |
97 |
$62,768 |
$190,000 |
|
Franklin |
539 |
54 |
$140,816 |
$360,000 |
|
Perry |
652 |
65 |
$108,154 |
$444,100 |
|
Decatur |
257 |
31 |
$82,686 |
$154,900 |
|
Beech Grove |
94 |
19 |
$83,600 |
$125,000 |
|
Speedway |
51 |
3 |
$84,833 |
$107,000 |
|
Center NE |
1099 |
61 |
$93,998 |
$524,900 |
|
Center NW |
203 |
14 |
$56,422 |
$532,500 |
|
Center SE |
507 |
47 |
$26,759 |
$124,000 |
|
Center SW |
58 |
6 |
$22,900 |
$65,000 |
The highest priced home sold in Marion County was in Lawrence Township. A Geist waterfront home featuring five bedrooms, five baths, four car garage, finished basement and 8832 square feet.
The lowest priced home was sold in Center NE for $2000.00; a three bedroom, one bath home with 1000 square feet.
Of the 810 homes sold in Indianapolis in October, 188 homes were distressed sales. Distressed sales include homes which are either bank owned, foreclosure, pre-foreclosure, HUD owned, short sale or VA owned and listed as such in the Indianapolis BLC.
There are currently 20,636 homes available for sale in the area served by our local Board of Realtors. When compared to the stats I ran in July, our inventory is down about 10%.
Interestingly, though, the list of distressed homes for sale has gone up from 2615 to 2899, which is up about 10%. 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 10/1/2008 and 10/31/2008 and 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, serving the Indianapolis real estate markets.
Contact Paula – 317–605–4174
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