Zionsville Real Estate Report – April 2007
| At a Glance: | ||
|
2007
|
2006
|
% Change
|
| Active: $449,396 | Active: $477,209 | -5.83 |
| Pending: $319,823 | Pending: $369,075 | -13.34 |
| Sold : $288,852 | Sold : $402,462 | 3.28* |
| Days on Market: 74 | Days on Market: 86 | |
| Absorption Rate: 7.11 | * See below for explanation |
Listing:
March 2007 added 90 homes to the Zionsville real estate market with an average listing price of $449,396. March 2006 had 63 homes added and the average listing price was $477,209. This is a decrease of $27,813 or 5.83%.
Pending:
There were 43 Zionsville homes that went pending in March 2007 and the average asking price of these homes was $319,823. The same month in 2006, 42 homes went pending and the average asking price was $369,075. The average home that went pending was down $49,252 or 13.34%
Sold:
The average selling price of a Zionsville home in March 2007 was $288,852. Of the 40 homes that sold, they took an average of 72 days to sell and received an average of 96.36% of their asking price. In 2006, 25 Zionsville homes sold with an average selling price of $402,462. These homes took on average 77 days to sell and received 95.01% of their asking price. While these numbers look daunting and depressing they need a little explanation. The reason that the average the average home sold for more than $110,000 less in 2007 is due to some anomalies in 2006. Five of the 25 homes sold in 2006 were above $700,000 with one selling for almost $2,000,000. The $2M home alone has a huge impact on the numbers with only 24 other homes selling. If you take these oddities out of the equation the average selling price for a home in March 2006 was $279,681. This means the adjusted figures show an increase of $9,171 or 3.28% for 2007.
As of 5/8/2007 there are 316 homes for sale in the Zionsville real estate market. In the past 12 months 454 Zionsville homes have sold: this means that the Zionsville real estate market has an 8.35 months supply of homes if no properties are added.
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Date: 2007-06-14 18:32:15Views: 323