Here is a look at what happened on the Zionsville real estate market in May 2009 vs. May 2008:
|
2008
|
2009
|
% Change
|
|
| Active |
N/A
|
309
|
|
| Homes Sold |
45
|
46
|
2%
|
| Average Selling Price |
$325,622
|
$293,167
|
-10%
|
| Days on Market |
94
|
111
|
18%
|
| Price Per Square Foot |
$123
|
$108
|
-12%
|
| List Price / Sales Price |
96%
|
96%
|
0%
|
Now, in Zionsville because only a handful of homes sell each month it is very important to look at the year to date numbers to gain some perspective as to the overall health of the market. It should be noted all of the numbers here are for homes listed under 1M:
| Number of Homes Sold | Average Selling Price | |||||
| 2008 | 2009 | % Change | 2008 | 2009 | % Change | |
| Jan. |
29
|
11
|
-62.07%
|
$358,304
|
$428,866
|
19.69%
|
| Feb. |
24
|
17
|
-29.17%
|
$286,261
|
$384,503
|
34.32%
|
| March |
38
|
29
|
-23.68%
|
$346,793
|
$325,942
|
-6.01%
|
| April |
25
|
25
|
0.00%
|
$342,507
|
$308,702
|
-9.87%
|
| May |
45
|
46
|
2.22%
|
$325,622
|
$293,167
|
-9.97%
|
| June |
|
|
|
|
|
|
| July |
|
|
|
|
|
|
| Aug. |
|
|
|
|
|
|
| Sept. |
|
|
|
|
|
|
| Oct. |
|
|
|
|
|
|
| Nov. |
|
|
|
|
|
|
| Dec. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Totals |
161
|
128
|
-20.50%
|
$331,897
|
$348,236
|
4.92%
|
With only 50 or so homes selling, I won’t even touch on the one month numbers but instead look at the YTD numbers. We saw this same thing in Fishers this month; a substantial decrease in the number of homes sold but a slight increase in the average sales price. The average sales price was down for the month, but again we need to focus on the YTD in Zionsville. The one item that does concern me is the fact that the absorption rate in Zionsville is a little bit higher than other comparable areas at 10.10. This means if we stopped adding houses to the market, it would take 10.10 months to sell the current inventory. While a 10 month supply is no terrible in this market, it is a little high and we need to keep our eye on it.
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Date: Thursday, June, 25th 2009 @ 07:24:07 AMViews: 694
This blog entry currently has 1 comments posted.
ki
I know its a small sample set but its nice to see the number of homes sold in 2009 start to look comparable to what was sold in the same month in 2008. We are seeing that in the Austin real estate market as well recently. In January the year to year decline was around 40% but now its down to 4%. Hopefully its a sign the market is starting to turn up.
Posted on 2009-08-11 22:30:49