Indianapolis Real Estate Market Report for November, 2011

Let’s take a look at homes for sale in Indianapolis. As the graph indicates, we are at our lowest For Sale inventory levels in Indianapolis, Indiana for the past 14 months. There was a decrease of 13.4% in inventory from this same time period a year ago, good news for those of you thinking of putting your home on the market. Another interesting statistic to note for Indianapolis real estate is that the Average For Sale price has been trending down, but the Average Sold price has been trending up, indicating that sellers are becoming more aware of their homes’ true market value.

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Wayne Township Listings Fall 8.6 Percent in October, 2011

For the third consecutive month the total number of Wayne Township homes for sale fell, most recently by 8.6 percent as there were 638 listings in October compare to 698 the previous month. Compared to last October’s total of 814 this represents a 21.6-percent decrease in the number of homes listed for sale in the this particular area of the Indianapolis real estate  market. From August through October of 2011 there were on average just 692 homes for sale per month, or 19.5 percent fewer, compared to this same quarter 1 year ago, when the per-month average was 860.

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Washington Township Real Estate Market Report for October, 2011

In the Washington Township area of the Indianapolis real estate market there were 4 percent fewer homes for sale in October versus the previous month’s total of 1,121. The most recent total of 1,076 Washington Township homes for sale represents a 12.9-percent decrease versus this same month 1 year ago. From August through October there were 12.5 percent fewer listings in this area of Indianapolis Indiana compared to this same 3-month interval in 2010.

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Warren Township Real Estate Market Report for October, 2011

If you were an agent trying to sell a home in Warren Township then you probably weren’t altogether thrilled by the fact that homes in this area of Indianapolis Indiana went for an average of 78 percent of their original list price in October, 2011. But if more competition means lower prices then perhaps there was some consolation in the fact that there were 3.8 percent fewer homes for sale in Warren Township’s share of the Indianapolis real estate market.  Compared to last October’s total of 874 this represents a 19.6-percent reduction in the number of Warren Township homes for sale. Further still, there were 19.9 percent fewer homes listed per month from August through October of this year compared to this same period 1 year ago.

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Pike Township Market Sees Improvement in October, 2011

With 7.2 percent fewer Pike Township homes for sale in October versus the previous month active sellers caught a break. Compared to last October’s total of 650 this is a 7.4-percent decrease in the number of listings on the Indianapolis real estate market. From August through October there were on average 636 fewer listings per month versus this same quarter 1 year ago in Indianapolis Indiana.

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Perry Township Home Sales Rise 8.8 Percent in October, 2011

One real area of improvement came in the form of a 7-percent decrease in the total number of Perry Township homes for sale compared to the previous month’s tally of 617. Compared to last year’s total of 634 listings during this same month this is an even greater 9.5-percent decrease for this particular area of Indianapolis Indiana. Plus the average of 610 homes that were listed in this area of the Indianapolis real estate in from August through October of this year represents an 8.4-percent decrease versus this same period last year.

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Lawrence Township Home Sales Fall 25.7 Percent in October, 2011

With fewer homes sold and fewer pending sales in the pipeline it’s a good thing that more homes weren’t placed on the market. It was quite the contrary, in fact, as there was a 3.6-percent drop in the number of Lawrence Township homes for sale, from 905 in September to 872 in October. Further still, this represents a 17.4-percent drop in the number of listings available Lawrence Township’s portion of the Indianapolis real estate market compared to last October’s total of 1,056. From August through October of this year there were on average 905 listings on the market in Indianapolis Indiana, or 18 percent fewer, compared to this same quarter in 2010 when the per-month average was 1,103 listings.

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Franklin Township Sales Rise 19 Percent in October, 2011

The 464 Franklin Township homes for sale in October represent a 7.6-percent decrease versus the previous month’s total of 502. However, this particular area of Indianapolis Indiana saw a 0.7-percent increase in total listings when compared to last October’s total of 460. Finally, from August through October of this year there were, on average, 495 listings in this area of the Indianapolis real estate market on a per-month basis, or 0.4 percent fewer, compared to this same 3-month period 1 year ago.

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Decatur Township Homes Average 113 Days on the Market in October, 2011

Sellers in this area of Indianapolis Indiana benefited from a 2.1-percent drop in the total number of Decatur Township homes for sale in October compared to the previous month. Also, the 229 homes listed in October represent a 1.3-percent decrease versus this same month 1 year ago. Looking at the most recent quarter compared to this same quarter 1 year ago there were on average 237 listings per month in this area of the Indianapolis real estate market, making it a 2.9-percent decrease versus the monthly average of 244 listings 1 year ago.

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Center Township Closings Up 12.6 Percent in October, 2011

In the Center Township area of Indianapolis Indiana there the total number of Center Township homes for sale fell 2.4 percent, from 1,145 in September to 1,118 in October. Compared to last October’s total of 1,307 this represents a 14.5-percent improvement in a market that most experts consider to be burdened with too much inventory. From August through October of this year there were on average 1,140 homes listed in this area of the Indianapolis real estate market, or 17.6 percent fewer, compared to this same quarter in 2010, when the per-month average was 1,383.

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Homes in Zionsville Average 100 Days on the Market in October, 2011

There were 6 percent fewer Zionsville homes for sale in October versus the previous month’s total of 315. In comparison, in the nearest major metro area there were 4.9 percent fewer Indianapolis homes for sale during this same time. Compared to last October’s total of 310 there were 4.5 percent fewer Zionsville listings.

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Westfield Pending Sales Up 11 Percent in October, 2011

The total number of Westfield homes for sale fell 7.6 percent versus the previous month’s average of 251. In way of comparison, there was a 4.9-percent drop in the number of Indianapolis homes for sale during this same period. And compared to last October’s total of 286 Westfield listings this is an 18.9-percent decrease overall.

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Plainfield Real Estate Market Report for October, 2011

Another positive development was a 2.5-percent decrease in the total number of Plainfield homes for sale in October compared to the previous month’s total of 199. In comparison, there were 4.9 percent fewer Indianapolis homes for sale during this same period. Compared to last October’s total of 200 the Plainfield market had 3 percent fewer listings to offer most recently.

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Noblesville Real Estate Listings Fall 3.8 Percent in October, 2011

One positive development, at least if you were a seller already faced with too much competition, was a 3.98 percent drop in the total number of Noblesville homes for sale. This nearly matches the 4.9-percent drop in Indianapolis homes for sale that occurred during this same time. The 665 Noblesville homes listed in October represents a 7.7-percent decrease versus this same month 1 year ago. There were on average 11.4 percent fewer homes listed for sale per month from August through October of this year compared to this same period last year, when the per-month average was 769.

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Mooresville Home Sales Fall 12 Percent in October, 2011

While there were 4.9 percent fewer Indianapolis homes for sale in October versus the previous month, the Mooresville real estate market went the exact opposite direction, as total listings increased 2.4 percent, from 168 in September to 172 in October. But wait: Compared to last October, when there were 181 Mooresville homes for sale, this is a 5-percent decrease.

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Martinsville Real Estate Market Report for October, 2011

One area of improvement came in the form of a 5.1-percent decrease in the number of Martinsville homes for sale, from 274 in September to 260 in October. This slightly exceeds the 4.9-percent decrease in Indianapolis homes for sale during this same period. Compared to last October’s total of 267 this is a 2.6-percent decrease. Also, from August through October of this year there were on average 272 homes on the market per month, or 3.5 percent fewer, compared to this same 3-month interval 1 year ago.

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Indianapolis Market Cools Off in October, 2011

For the fourth consecutive month the total number of Indianapolis homes for sale fell as there were 4.9 percent fewer homes on the market in October versus the previous month’s total of 6,775. Even better for the Indianapolis real estate market was the fact that, compared to last October’s total of 7,442, listings were down 13.4 percent. Even in a quarterly comparison, the average number of homes on the market per month from August through October of this year was down 13.4 percent.

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Greenwood Real Estate Market Slows in October, 2011

Since reaching a 12-month high of 736 in May of 2011 the number of Greenwood homes for sale has fallen in each of the ensuing months, most recently falling 3.9 percent from the previous month’s total of 643. This 3.9-percent decrease comes close to matching the 4.9-percent drop in Indianapolis homes for sale during the same 1-month period. But Greenwood listings, compared to last October’s total of 704, were down an even greater 12.2 percent. From August through October of this year there were on average 12.4 percent fewer homes on the market per month compared to this same period last year.

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Greenfield Real Estate Market Report for October, 2011

While the 1.6-percent drop in total listings from September to October doesn’t quite match the 4.2-percent drop in Indianapolis homes for sale that occurred during this same period it represents an improvement nonetheless. What’s more, the 310 Greenfield homes for sale in October represent a 9.1-percent improvement versus where the market was exactly 12 months prior to this. Also, from August through October of this year there were on average 322 Greenfield homes on the market, or 7.7 percent fewer, compared to this same period last year.

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Franklin Home Sales Up 9.1 Percent in October, 2011

While the 1.4 percent drop in Franklin listings versus the previous month, while an improvement, didn’t quite match the 4.2 percent drop in Indianapolis homes for sale during this same period. Be that as it may, October’s total of 208 Franklin homes for sale represents a substantial 23.8-percent improvement in the market compared to this same month 1 year ago. What’s more, there was also a 23.8-percent decrease in the average3 number of homes on the market per month from August through October of this year versus this same period 1 year ago.

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Fishers Real Estate Market Slows in October, 2011

Compared to the 4.9-percent drop in the number of Indianapolis homes for sale in October versus the previous month there was a less pronounced 1.5-percent drop in total Fishers listings over this same period. The 641 Fishers homes for sale in October represents an even greater 5.7-percent decrease compared to this same time 1 year ago. Also, from August through October of this year there were on average 657 Fishers homes on the market per month, or 7.2 percent more, compared to this same 3-month interval in 2010.

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Danville Home Sales Rise 91.7 Percent in October, 2011

Compared to neighboring Indy, which saw a 4.2-percent decrease in Indianapolis homes for sale, the Danville market saw a 5.5-percent decrease as total listings fell to 120 from the previous month’s total of 127. Versus October of 2010, however, this is a 2.6-percent increase. The average number of Danville homes for sale per month, from August through October of this year, was just 0.8 percent above where the market was during this same quarter 1 year ago.

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Carmel Real Estate Market Slows in October, 2011

October of 2011 marked the 4th straight month that the total number of Carmel homes for sale fell, most recently by 5.2 percent. This for the most part echoed the 4.9-percent decrease in the number of Indianapolis homes for sale just south of the Carmel border. Compared to last October, the most recent figure represents a 5.4-percent drop in Carmel listings. Plus, from August through October of this year there were on average 798 Carmel homes on the market, or 3.7 percent fewer, relative to this same period in 2010.

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Brownsburg Real Estate Market Stats for October, 2011

Helping ease what most real estate experts consider to be an over-supply of inventory was a 5.9-percent decrease in the total number of Brownsburg homes for sale, from 289 in September to just 272 in October. This is slightly better improvement compared to the 4.9 drop in Indianapolis homes for sale that neighboring Indy experienced during this same time. What’s more, the most recent number of Avon listings represents a 6.2-perent decrease versus the Avon market 1 year ago. From August through October of this year there were on average 287 homes listed per month, or 5.3 percent fewer compare to this same quarter 1 year ago.

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Avon Real Estate Market Continues Cool-Off in October, 2011

One Avon stat that was not on the decline was that of total listings. There were 347 Avon homes for sale in October, or 1.2 percent more, compared to the previous month’s total of 343. This was the exact opposite of Indianapolis, as there were 4.9 percent fewer Indianapolis homes for sale during this same period. Compared to the October of 2010, however, there were 10.6 percent fewer Avon homes on the market. Also, from August through October of this year there were on average 355 listings on the Avon market per month, or 12.6 percent fewer, versus this same period last year, when the per-month average was 406.
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Wayne Township Home Sales Rise 9.6 Percent in September, 2011

One good thing: The total number of homes listed in this area of the Indianapolis real estate market fell 5.8 percent compared to the previous month’s total of 741. And versus last September’s total of 852 this represents an 18.1-percent reduction in the number of homes listed for sale on the Wayne Township real estate market. Finally, from July through September of this year there were on average 728 homes for sale in this area of Indianapolis Indiana, or 19.4 percent fewer, versus this same quarter 1 year ago.
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Washington Township Home Sales Fall 7.4 Percent in September, 2011

Another positive development for the Washington Township real estate market was the fact that there were 3.4 percent fewer homes on the market. September’s total of 1,121 listings in this geographical area of the Indianapolis real estate market represents a 12 percent reduction versus the 1,274 homes that were listed in September, 2010. Moreover, this area of Indianapolis Indiana saw a 13.2-percent decrease in the average number of homes listed per month during the months of July through September of this year compared to this same 3-month period in 2010.
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Warren Township Real Estate Report for September, 2011

Anyone who works in real estate knows what the market needs at this point in time is fewer listings. Fortunately, this is exactly what the Warren Township real estate market got in September, as there were 4.2 percent fewer homes listed for sale in this area of Indianapolis Indiana versus the previous month’s total of 763. But where it gets really interesting is in the 1-year comparison: Versus September of 2010 there were 21.4 percent fewer homes for sale in Warren Township’s portion of the Indianapolis real estate market. From July through September of this year there were 18.7 percent fewer homes on the market on a per-month basis compared to this same quarter 1 year ago.
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Pike Township Real Estate Market Offers Double-Edged Sword in September, 2011

There were 1.1 percent fewer homes for sale in the Pike Township area of the Indianapolis real estate market in September compared to the previous month’s total of 656. What’s more, the Pike Township real estate market saw a 2.6-percent drop in total listings compared to last September’s total of 666. Finally, from July through September of this year there were on average 660 homes for sale per month in this area of Indianapolis Indiana–0.2 percent fewer—compared to this same quarter 1 year ago.
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Perry Township Real Estate Report for September, 2011

A modicum of relief was felt in Perry Township’s portion of the Indianapolis real estate market as total listings fell 3.4 percent, from 639 in August to 617 in September. Even better, this is an 8.2-percent decrease versus September of 2010, when there were 672 Perry Township listings. Finally, the Perry Township real estate market saw a 7.3-percent drop in the average number of homes listed for sale per month relative to this same quarter last year.

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Lawrence Township Real Estate Market Report for September, 2011

There were 905 homes for sale in the Lawrence Township area of the Indianapolis real estate market September, down 3.4 percent versus the previous month’s total o f937. This is also a more substantial 19.2-percent decrease versus last September’s total of 1,120. Further still, there were on average 16.9 percent fewer homes listed on the Lawrence Township real estate market from July through September of this year compared to this same period 1 year ago.
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Franklin Township Sees 23.2-Percent Drop in New Listings in September, 2011

In the Franklin Township area of the Indianapolis real estate market, the number of homes for sale fell 3.5 percent, from 520 in August to 502 in September. Compared to 1 year ago, when there were 497 homes listed for sale in September, this is a 1-percetn increase in total listings. The Franklin Township real estate market underwent a 2.9-percent drop in the average number of homes listed for sale per month from July through September of this year compared to this same quarter last year.
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Decatur Township Real Estate Market Report for September, 2011

In the Decatur Township portion of the Indianapolis real estate market there were 234 homes for sale in September, or 5.6 percent fewer, compared to the previous month’s total of 248. Compared to last September’s total of 243, however, this is a 3.7-percent decrease. Moreover, the Decatur Township real estate market saw, on average, 2.7 percent fewer homes listed for sale from July through September of this year compared to this same period 1 year ago, when the average was 256 listings per month.
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Center Township Real Estate Market Fails to Impress in September, 2011

There were 1,145 homes for sale in the Center Township area of the Indianapolis real estate market in September versus the previous month’s total of 1,157, making it a decrease of just 1 percent. Compared to last year’s September total of 1,404, however, this is a pretty significant decrease of 18.4 percent. From July through September of this year there were also 19.9 percent fewer homes listed on the Center Township real estate market on a per-month basis compared to this same period 1 year ago.
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Zionsville Homes Spend 50 Percent More Time on Market in September, 2011

Total Zionsville listings fell 0.3 percent, from 316 in August to 315 in September. In comparison to other nearby markets, such as the Indianapolis real estate market that lost 3.2 percent of its listings over the same period, it is not much of a decrease, but we’ll take it. Compared to last September’s total of 344 Zionsville listings this is an 8.4-percent drop. From July through September of 2011 there were on average 316 homes listed on the Zionsville real estate market, or 9.7 percent fewer, compared to this same quarter last year, or 316 versus 350 respectively.
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Few Bright Spots for the Westfield Real Estate Market In September, 2011

The Westfield market benefited, albeit ever-so-slightly, from a 1.6-percent decrease in total listings. While this is exactly ½ the drop in listings that the Indianapolis real estate market experienced any small improvement helps, especially considering there are already too many homes on the market. More importantly, September’s total of 251 Westfield listings represents a 20.8-percent drop in listings compared to where we were 1 year ago in September of 2010. Plus, from July through September of this year there were, on average, 256 homes on the Westfield real estate market per month, or 19.5 percent fewer, compared to this same 3-month interval last year.
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Plainfield Real Estate Market Falls in September, 2011

Another positive development was that total listings fell 3.4 percent, as there were just 99 Plainfield homes listed for sale in September compared to 206 the previous month. In fact, this is a slightly bigger decrease in listings than the 3.2-percent of homes that came off the Indianapolis real estate market over the same time frame. Compared to last September’s total of 215 this is a 7.4-percent drop in the number of homes listed on the Plainfield real estate market. Even in a quarterly comparison this stat was down, as there were, on average, 5.6 percent fewer listings from July through September of this year versus this same quarter in 2010.
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Noblesville Real Estate Market Cools Off in September, 2011

As if the market needed more listings, there was a 0.4-percent increase in the number of Noblesville listings, from 688 in August to 691 in September. This is somewhat of a contrast to the neighboring Indianapolis real estate market, which saw a 3.2-percent drop in total listings during this same period. Compared to last September’s total of 776, however, this represents a much needed 11-percent decrease in total listings. From July through September of this year, the Noblesville real estate market saw an average of 12.7 percent fewer homes for sale on a monthly basis compared to this same quarter last year.
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Mooresville Sales Rise 31.3 Percent in September, 2011

The number of Mooresville listings peaked at 183 in April of 2011. Since then, there has been a steady downward trend in the number of homes listed for sale in Mooresville. Most recently, the Mooresville real estate market saw a 1.2-percent decrease in total listings, from 170 in August to 168 in September, 2011. While this is less than half the decrease in listings that the Indianapolis real estate market recorded it is nevertheless a good thing for anyone trying to sell a home, since it represents less competition in a market that already has too many homes. At this point, any reduction in inventory is a good thing for the market. September’s total of 168 listings represents an even greater 11.6-percent decrease in listings versus 1 year ago during this same month. What’s more, there were 11 percent fewer homes on the market per month from July through September of this year relative to this same quarter 1 year ago, or 170 versus 191 respectively.
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Martinsville Real Estate Market in September of 2011 Suffers Decrease in Sales

The Martinsville real estate market experienced a decrease of 2.8 percent in the number of homes listed for sale. Indeed, fewer listings was the norm across many towns and cities in central Indiana, including the Indianapolis real estate market, which lost 3.2 percent of its total listings. Versus last September’s total of 279 this is a decrease of 1.8 percent. Also, there was an average of 5.4 percent fewer Martinsville listings on a per-month basis from July through September of this year relative to this same period 1 year ago.
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Indianapolis Market Slows Down in September, 2011

Leaves weren’t the only thing falling in September, 2011. Unmistakable signs of an Autumn slow-down could be seen in the latest sales figures for the Indianapolis real estate market. Starting with total listings, there were 3.2 percent fewer Indianapolis homes for sale in September versus the previous month, or 6,775 versus 6,997 respectively. What’s more, compared to last year during this same month this is a 13.5-percent decrease. Even the average number of homes on the market per month from July through September of this year was down 13.4 percent versus this same period 1 year ago.
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Greenwood Real Estate Market Takes a Few Hits in September, 2011

One area of improvement that has been seen throughout many central Indiana real estate markets comes in the form of fewer listings. The total number of Greenwood listings in September fell 6.1 percent, to 643 versus the previous month’s total of 685. This is a slightly better statistical improvement compared to the 3.2-percent drop in listings that the Indianapolis real estate market recorded. Compared to last year during this same month this is a 15.6 percent decrease. Plus, from July through September of this year there were 10.8 percent fewer homes on the Greenwood real estate market per month compared to this same quarter last year, or 676 versus 758 respectively.
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Greenfield Pending Sales Rise 14.3 Percent in September, 2011

The Greenfield real estate market was part of a trend that could be seen in many nearby central Indiana markets toward fewer listings. In September, there were 315 Greenfield homes for sale, down 7.6 percent versus the previous month’s total of 341. In comparison, the Indianapolis real estate market experienced a 3.2-percent decrease in total listings. Compared to 1 year ago in September this is a 10.3-percent decrease. From July through September of this year there were 4.5 percent fewer listings on a per-month basis compared to this same quarter last year, or 336 versus 352 respectively.
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Franklin Real Estate Market Cools off in September, 2011

Since hitting a 15-month high of 291 in August of 2010, the total number of Franklin homes has been on a more or less steady decline. In fact, the most recent total of 211 listings represents a 27.5-percent difference since that time. Compared to August of 2011, it is a decrease of 6.2 percent and a better statistical improvement compared to the nearby Indianapolis real estate market, which lost 3.2 percent of its listings. Compared to last September’s total of 283 it is a 25.4-percent decrease. From July through September of this year there were, on average, a monthly total of 224 homes listed on the Franklin real estate market, 21.7 percent fewer, compared to this same quarter in 2010. This is all good news for anyone trying to sell a home in Franklin.
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Fishers Homes Sales Fall 14.7 Percent in September, 2011

Whereas the Indianapolis real estate market saw a 3.2 percent decrease in the number of homes for sale versus the previous month, the Fishers real estate market lost 4.1 percent of its listings over the same period. This is a good thing for anyone trying to sell a home, since fewer homes on the market makes it that much easier for existing sellers to get a better price. Compared to last September, the most recent total of 712 listings represents an 8.6-percent decrease. Also, from July through September of this year there were on average 6.2 percent fewer Fishers homes on

Danville Pending Sales Climb 5.9 Percent in September, 2011

In what was surely a welcomed change by most sellers’ agents the total number of Danville homes fell 8 percent versus the previous month’s total of 138. This is significantly more compared to the 3.2-percent decrease that belonged to the Indianapolis real estate market during the same period. What’s more, September’s total of 134 listings represents a 5.2-percent decrease in the number of homes on the Danville real estate market. However, from July through September of this year there were, on average, 137 homes listed for sale per month, or 6.2 percent more, compared to this same quarter in 2010.
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September, 2011 Carmel Real Estate Market Better off Versus 1 Year Ago

Compared to the Indianapolis real estate market, which underwent a 3.2-percent drop in total listings versus the previous month, there were 2.1 percent fewer homes on the Carmel real estate market over the same period. Versus September of 2010, there were 4.7 percent fewer Carmel homes on the market. Finally, From July through September of this year there were on average 1.8 percent fewer homes listed for sale on a per-month basis compared to this same period last year.
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Brownsburg Real Estate Market Stats Fall in September of 2011

September marked the 4^th consecutive month that the total number of homes listed on the Brownsburg real estate market fell. Versus the 12-month high of 311 listings that occurred in May, 2011 the most recent total of 289 represents a 9.3-percent decrease overall—a more significant difference compared to the 3.2 percent drop in listings that was recorded for the neighboring Indianapolis real estate market. What’s more, there were, on average, 3.6 percent fewer Brownsburg homes per month, from July through September of this year relative to this same quarter 1 year ago, or 296 versus 307 respectively.
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Fewer Homes on Avon Real Estate Market in September, 2011

Having climbed for six consecutive months, the total number of Avon homes finally fell to 343 in September versus the previous month’s total of 376. Compared to the 3.2 drop in listings that the Indianapolis real estate market experienced this is a more significant 8.8 percent decrease. Compared to last year during this same month the most recent total represents a 14.5-percent decrease. What’s more, the Avon real estate market saw a 122.9-percent decrease in the average number of homes listed for sale on a per-month basis, from July through September of this year.

Wayne Township Improves in August, 2011

The improvement was not huge in the Wayne Township real estate market, but it was there and could be felt. From a supply-demand standpoint, fewer homes on the market at this point is a good thing. In August, 2011 there were 0.7 percent fewer Wayne Township homes for sale compared to the previous month. Compared to last August’s total of 914, however, this is a much better 18.9-percent improvement. Even in a quarterly view there was improvement as the average number of home listed for sale on a per-month basis fell 19.8 percent versus this same period 1 year ago.

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