Indianapolis/Fishers Real Estate

I just recently posted my year end 2009/2008 analysis of the Fishers Real Estate Market; but wanted to dig a little deeper and look at the statistics by neighborhood.  You may recall that of the homes for sale in Fishers in 2009, 1,615 were sold compared with 1,676 in 2008; a 3.5% decline. The full report for the 2009 Year in Review for Fishers Real Estate is available for you to read.

This first graph shows us Fishers most popular neighborhoods, many of which I have written detailed reports on this blog. 

Each month, one of the neighborhoods that sells the most is Sunblest Farms located near the center of town.  In 2009, 89 homes were sold compared with 62 in 2008.  Part of the higher numbers is the neighborhood has nearly 1500 homes.

Other popular neighborhoods shown are Sandstone, Gray Eagle and Sumerlin Trails.

Of the 10 neighborhoods shown, five of them sold less in 2009 versus 2008, four sold more and Spyglass Hills sold exactly the same at 19. 

This next graph shows us the price per sq ft by neighborhood between 2009 and 2008.  Overall for 2009, the average price per sq ft was $92.80 compared with $97.05 in 2008.  But there were neighborhoods that saw an increase or appreciation in their pricing. 

For example, Sumerlin Trails saw a 14% increase in pricing and both Meadow Brook and Sweet Briar saw a 2% increase.  Most of the other neighborhoods did see slight decreases between 1-3%.  Sandstone remained constant.

The days on market for Fishers homes for sale in 2009 were 75 compared with 81 in 2008; so they sold quicker!  The graph for that might make this blog post a little busy, so I will highlight it just in text.  The neighborhood with the best improvement in DOM was Sunblest moving from 70 days in 08 to just 52 in 09.  Only two neighborhoods saw higher DOM’s; they were Gray Eagle (5%) and Windermere (6%).

For the Marchant Team, our days on the market were 60 per the most recent MIBOR report.  Of the thousands of Realtors® in the Metro Indy area, the Marchant Team ranked 10th in the city in 2009.  This Fishers Realtor has her pulse on the Fishers market, enabling me to be in the best position to sell your home or find you a new home.  Be sure to read all of the Fishers Real Estate Market Reports.

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Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

I was very anxious to view 2009 to 2008 to determine if we had declining values in Fishers, specific trends and any good news!  I am an accountant by background and love the analytics of evaluating real estate; I also am a very good negotiator as a result of my previous training.  That is a trait you WANT in your Fishers Real Estate Agent!

For 2009, there were 1,615 homes that sold in Fishers compared with 1,676 in 2008 so a decline of about 3.5% during what has been termed the most turbulent year in the housing market ever.  Apparently no one told the residents in Fishers that! 

If we look at the days on market (DOM) and price per sq ft, we see 2009 at 75 DOM and 2008 at 81 DOM which is an improvement!  Homes were selling faster.  The Marchant Team had seven homes in 2009 that sold in less than 20 days!  Our average for 2009 was 67.

The price per sq ft in 2009 was $92.80 versus $97.05 in 2008; so some disappointment there as we saw a decline in the Fishers Real Estate market.  There may be a few reasons for this.  I noticed seller motivation very high this year as move up buyers saw great opportunities on the buy side and were willing to give more on the sale side.  In addition our foreclosure and short sales were significantly higher this year (50%); these homes will typically sell for less per sq ft. 

For December, we saw 81 homes sell compared with 102 in 2008 (it might be that folks have not turned in their year end closings yet, so I’m not overly alarmed by that).  The highest priced home was $1,150,000 in the Horizons with 9,000 sq ft; keep in mind this home had been on the market since August of 2004 starting at $1,600,000.

There was a home in Lake Stonebridge that sold for $295,000 that was bank owned; normally that neighborhood is well into the $500,000 to buy.  I know, it is where when I sell enough real estate, I will move!

You can look back to our monthly Fishers Real Estate market reports to see how each month looked and the neighborhoods that sold well.  Statistics always vary by location right down to neighborhood.  Let me know if you are interested in how your neighborhood faired.  Or you might find it as a Fishers Neighborhood I have already highlighted.  Our team writes varies area blogs, including the Noblesville Real Estate year end Market Report and the Carmel Indiana Real Estate year end Market Report.

It is always good to know what is ahead as well and while I wish I could tell you your house will sell for $5,000 more than you thought in 10 days with multiple offers, I can’t.  There are some trends worth reading about though to help you sort through the Real Estate Market for 2010!

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Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

The Fishers Real Estate Market has turned the corner?  Last month we saw the 2009 monthly totals beat the 2008 monthly totals by 4 houses, this month we see the 2009 number 18 better than 2008 November.

Let’s have a look at the graph and talk about November. 

For November 2009, there were 113 homes that sold and 16 (14%) of those were distressed properties.  Last year for November, there were 85 homes that sold and 9 (10%) were distressed properties.

Of the 113 that sold this month; the average days on the market were 66; this compared with 92 a year ago and that is a storyline!  The homes are selling quicker in a month that typically is slow.  Here’s my theory on that; there were a lot of people who went under contract BEFORE the first time buyer credit extension was announced.  So, we have to be careful how we look at the data.  We need another few months to be sure we are moving into a seller’s market.

The average price per sq ft is down just slightly to $94 from last year at $96. 

Of the 113 homes that sold in Fishers, five of them were above $500,000 and five were below $100,000.  The most expensive home was in Canal Place for $1,155,000 with nearly 10,000 sq ft.  The two that were on the market the longest were in Sandstone; the one on Napa Valley was on the market 416 days and the one on Tumbleweed was on the market 347 days.

The neighborhoods with the most activity this November were the Sandstones (8), Wildwood Estates (5) and several ties with four homes each including Summerlin Trails, Lakeside Green and the Del Webb neighborhood of Britton Falls.

Be sure to check out the other Fishers Market Reports for all of 2009 and 2008.  This Fishers Realtor has her pulse on the Fishers market from all the research over these last few years.

Currently there are 736 homes for sale in Fishers and I would love to show you any of them and get you closed in time to take advantage of the extended first time buyer credit ($8,000) or the repeat buyer credit ($6,500) or just get you into a new home that you will love because of a growing family or because of a smaller family.

Your Fishers Realtor stands ready to help you find the right home!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

It’s my monthly analysis of the Fishers Real Estate market.  There are currently 759 homes for sale in Fishers, with 135 of them below $150,000.  Here is a quick list of those homes less than $150,000 in Fishers; it is dynamic so changes daily. Those are great homes for first time buyers to take advantage of the extended $8,000 tax credit.  If you haven’t already heard, there is a credit for repeat buyers as well now.  The rules are:

1.  Must have lived in the home five of the last eight years
2.  Must have a married income of less than $225,000 or a single income of $125,000
3.  Must purchase a new home
4.  Both the sale and buy must take place between now and 4/30/2010; closing before 6/30/2010.

Moving into the October market for Fishers, we saw 118 homes close compared with 114 last year.  This is great to see after several months of 2008 beating 2009.  We are currently still behind about 7% from a year ago in looking at the year to date figures. In terms of distressed properties, there were 15 this month and 14 last October.

The average days on market were 80 this month which is substantially less than they were a year ago at 96.  The average price per square foot remains relatively constant at $100 from a year ago; so not a great deal of appreciation this year although it DOES vary by subdivision.

We saw Sunblest Farms hit it out of the park this month with 7 sold properties and the days on market were 4, 5, 8, 13 and 34 for five of those.  When you can list a house and sell it in the same week; that’s a hot neighborhood!

Lake Stonebridge had three that sold this month; it is where I ultimately want to retire!  I watch that neighborhood closely.

There were two homes that were over $1,000,000 sell this month; the days on market for those were significant at 156 days and 246 days.

If you’d like specific information on your neighborhood, send me a quick email or reply to this blog post and I’ll give you graphs and statistics on your home.

I am your Fishers Realtor signing out!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

The amount of homes for sale in Fishers remains fairly constant at around 750; currently there are 773 homes for sale.  This blog post is to talk about the sales in September and also look at the full month by month report for 2009 for Fishers Real Estate.

For September, there were 129 homes that sold compared with 172 in September of 2008. This is a 25% decline. 

The most popular neighborhoods were Sunblest, South Avalon, and Sandstone.  Of the 129 homes that sold 49 of them or 38% were in the $150,000 to $250,000 price point with only 15 homes over $350,000. 

The average price per square foot was $93 and the average days on market were 71.  (The Marchant Team days on market for 2009 is averaging only 59!)

The most expensive home that sold in Fishers was $2,625,000 in Breakwater with over 14,000 square feet and on 3 acres!  The most inexpensive home was for $65,000 near 113th and Florida road with only 1,152 square feet.

The last two months (July and August) we have thrown out the possibility that we have “borrowed” buyers in the earlier months of the year.  I think September continues to show that trend. 

The other possibility is that in September of last year, the zero % financing ended so many buyers quickly purchased before that funding was sunset in the July-September timeframe.

Next month should be an interesting bar on our graph to substantiate one of these hypothesis. 

Another trend we are watching is the distressed property numbers.   This month there were 21 of the 129 or 16% that were distressed. 

Last year for the month there were only 9 or 5%.  I have six closings this month and 4 of them are with a distressed property. 

Remember if you are needing to sell your home and think you may be upside down or you are looking to buy a distressed property, this Fishers Realtor is very educated and savvy on those types of sales.

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

There are currently 790 homes for sale in Fishers and there are 204 pended (sales contract is in place) but what a story we have on homes in Fishers that sold in August!  The graph below shows the trend from January through August for sold Fishers Real Estate.  I think using the graph is a great way to see a bigger picture, than just writing about the month of August.

The numbers have been consistently close through June and then we saw a 14% decline in July and we are seeing a 31% decline in August!  Our hypothesis in July was that perhaps the influx of first time home buyers was beginning to decrease as most were already in the market.  I think that this is more evidence to support that hypothesis.   There were 139 homes that sold in Fishers versus 201 a year ago in August. 

I did consider whether the number of pends was unusually high and by looking at the pends by date; this could be an explanation.  Of the 204 homes for sale in Fishers that have a contract; 102 of those pended in August.  I know “getting to the closing table” is much harder than it used to be; so timing may be a factor.  There were new lending regulations that came out at the end of July requiring better disclosures and longer time tables.

Of course the highest price home in Fishers that sold was for $1.1 million and it was Marcus Schrenker’s home in Geist.  Most of the lowest priced homes that sold were the condo’s at Cedar Cove that have the traffic of 96th and Allisonville to contend with.  Sunblest, Sweet Briar and Woodberry had the most homes for sale in Fishers that sold.

The number of distressed homes continues to decline from the 2008 levels signifying the run on bargains may be approaching a balanced level.  For the third month in a row, the number of homes for sale in Fishers that are distressed is less than the number in 2008.  There were only 14 homes in August 2009 that were designated as distressed. 

Our team continues to help many people understand the difference between foreclosing on a home and selling short.  We have a Certified Distressed Property Expert (CDPE) or Short Sale Realtor® on our team, her name is Susan Timmerman.  It is worth talking to her or referring someone you know in a negative equity position to Susan to discuss the differences between foreclosures and selling short.

If you are thinking about having your home in Fishers for sale; you need to choose your Realtor® wisely.  The best two questions to ask a Realtor are:

1. How long does it usually take you to sell a home; known as days on market?
2. What is the percentage you usually get compared to list price for a sales price?

The Marchant Team for 2009 statistics are 59 days on the market meaning we sell your homes in less than two months and our average sale price to list price is 96%.  If you have a home listed at $200,000; you can expect the Marchant Team to get you $192,000 as the sales price.  There are very few Realtors in Fishers that can compete with those numbers.  If you want the best selling or buying experience, hire the best Realtor.

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

We are all curious when the Fishers Real Estate market will return to normal levels, I think looking at trends is the best way to determine that.  For this post; I have pulled all of the sold homes in Fishers (both Delaware and Fallcreek Township) for each month from January to July comparing 2008 to 2009.

The numbers actually look fairly close for most months; within a couple of percents.  The exception is actually July.  We are down 14% from a year ago.  I think there are possibly two reasons for this.  The first is the date I am actually running this analysis, August 6th.  Some real estate offices do not get their data loaded in a timely manner, so there still may be homes that have closed but are not yet entered for July 2009.  The other reason might be a bit more alarming; all of the first time home buyers have entered the market and bought something and so those buyers aren’t as plentiful in July. 

Year to date there have been 935 homes in Fishers that have sold compared to 981 in 2008 or a 5% decline.  From these numbers, I think we can say that the media sometimes over states a National phenomena at a local level.  There are still some issues with days on market and the average price per sq ft that is sold.  Be sure to check out all of our Fishers Real Estate Market Reports for more details on these statistics!

I also ran a graph for distressed properties by month comparing 2008 and to 2009 and that is a far more interesting graph.  It is easily seen that the number of distressed properties is way up in 2009 and it is probably not a big surprise based on what we hear in the media.  It looks like the distressed properties actually began to be an “issue” in June of last year so hopefully we will see 09 start to be less than 08!  This is exactly what we have in July!

Our team has actually had some great success in securing great deals on distressed properties for our buyers.  Ben, is one of our clients that got a $200,000 home for about 75% of value.  Distressed properties do provide some great opportunities if you have a Certified Distressed Property Realtor on your team and we do!  This can be valuable if you are looking to buy AND if you are looking to sell because she can guide you on avoiding a possible foreclosure and the effects that will have on your credit.

It’s a bit of a lengthy post this month; but market statistics are important for any Realtor® that is at the top of their game.  Realtors® need to know absorption rates, market statistics and Fishers neighborhood values as well as how to price, negotiate and get the transaction to the closing table which is a challenge these days.  Want the best Realtor in Fishers, call or email me.  I will take you through the process and get you the best deal in the shortest amount of time.

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

We have been doing market reports for Fishers Real Estate for over a year now!   This particular report highlights the 1st six months of 2009 with the same time period in 2008.  The graph below highlights the key indicators we should watch, including price per sq ft, days on market and the number of distressed properties. 

The graph shows an increase in distressed properties of 59% which gives a slap of reality to the current housing market.  I don’t want to beat a dead horse with the things that can go bump in the night on a distressed property, but my word of caution is be sure you have a lot of time and are handy if this is a market that interests you.

We are also seeing the under $150,000 market make up 30% of the total sold homes in Fishers in 2009; versus only 25% of the total in 2008.  This is good news as we see more and more first time buyers enter the market and take advantage of the $8,000 tax credit (which is only available for homes that close prior to 11/30/09).

The bulk of the sales continue to be in the $150,000 to $350,000 price point, making up over 50% of the sales in Fishers.  Days on market appear fairly consistent with 2008 and price per sq ft is down about 5%.

The most expensive home that sold in 2009 was for over $1,000,000 in The Hawthornes, it had nearly 11,000 square feet and was on the market for 292 days.  The lowest price house was for 50,000 in the Marilyn Ridge area.

The homes with the most sold included Sunblest Farms (42), Brooks Chase (23), Sumerlin Trails (19) and Avalon of Fishers (12).

There are 842 active Fishers homes on the market and 158 of those are less than $150,000.  Who do you know that should be thinking about buying their first home?  We have a first time buyers class each month on the last Saturday of the month.  We’d love to see you or someone you know at our class to learn about buying, inspecting, finding the perfect home and how to get their $8,000!

Carmel Real Estate Market Report (June YTD 09 to 08)

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

Active Homes for sale in Fishers Indiana for May total 735.  What is most interesting is of the 189 new listings that came on the market in May, nearly 20% of them were from high end neighborhoods (sale price over $500,000) including Bridgewater, Canal Place, Lake Stonebridge, and Windermere Pointe.  This may tell us that consumer confidence is beginning to come back or it may tell us executive job loss is on the rise; what’s your call?

This market report covers the activity for May 2009 and is for both Delaware and Fall Creek Townships.   Please be sure to look at our Market Report category for previous month reports.  

Active Single Family Homes Listed in May                   189

Single Family Homes Currently Active                        735

Single Family Homes Sold in May                               140

Average Sale Price per sq ft                                     $96 (Nearly a 10% increase over last month)

Average Days on the Market                                      70 (Over a 25% decrease over last month)

The neighborhood with the most sold in May were Sumerlin Trails (7) and Sunblest Farms (8).  These are first time buyer priced neighborhoods so that makes sense to see those turning over more.  If we look at May of 2008, we had 167 homes sell, compared with 140 in 2009.  This is a 15% decline from 2008; this is still encouraging since our decline %ages have been in the 30’s for previous months of 2009 compared with 2008. 

What is, however, very interesting is the number of distressed homes (aka deals in Fishers Real Estate!) that sold in May.  In 2008 we had 5 or 3%; in 2009 we had 14 or 10%.

The most expensive home that sold in the Fishers Real Estate market was $1,155,000 this month in The Hawthornes near 106th and Geist Road.  It was on the market for 292 days. The lowest priced home was in Marilyn Ridge for $71,000 and it was in foreclosure. 

The neighborhoods with the most new listings this month include Brooks Chase (5), The Bristols (4), Woodberry (6) and Sunblest Farms (9).  You can search for any Fishers Real Estate for Sale by Neighborhood here!

The most expensive Fishers home listed this month is actually one of mine, at $2,200,000 in The Overlook and sits on hole 16 with over 11,000 square feet.

Finally, one last tidbit that I think supports the Fishers Real Estate market being hot. Of the 117 homes pended in May; 39 of them or 33% were on the market LESS THAN 30 DAYS!  Also of those 117 homes pended 44 or nearly 40% were less than $175,000.  The first time buyer is buying and in some cases, actually being too late to get the house they want because there is competition for that price point.

If you would like information about your specific neighborhood such as active listings, average price sold over the last year, or appreciation rates, please contact this Fishers Realtor.

Search homes for sale in Fishers by Neighborhood

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

Active Homes in Fishers Indiana for April total 737; something for everyone!  This market report covers the activity for April 2009 and is for both Delaware and Fall Creek Townships.   Please be sure to look at our Market Report category for previous month reports.  

Active Single Family Homes Listed in April                   184

Single Family Homes Currently Active                         737

Single Family Homes Sold in February                         113

Average Sale Price per sq ft                                       $89

Average Days on the Market                                      103

The neighborhood with the most sold in April were Sandstone and Sunblest.  These are first time buyer priced neighborhoods so that makes sense to see those turning over more.  If we look at April of 2008, we had 122 homes sell, compared with 113 in 2009.  This is a only a 5% decline from 2008; this is encouraging since our decline %ages have been in the 30’s  for previous months of 2009 compared with 2008. 

What is, however, very interesting is the number of distressed homes (aka deals in Fishers Real Estate!) that sold in April.  In 2008 we had 8 or 6%; in 2009 we had 18 or 16%.

The most expensive home that sold in the Fishers Real Estate market was $535,000 this month in Brooks Park near 104th and Olio.  It was a custom home built by RC Tucker Homes. The lowest priced home was in Sunblest for $87,000 as a bank owned.  This home had nearly 2,000 sq ft of living space and was assessed for $156,000.  That was a deal for a home in Fishers!

The neighborhoods with the most new listings this month include Brooks Chase (9), The Bristols (8) and Sunblest(7).  You can search for any Fishers Real Estate for Sale by Neighborhood here!

If you would like information about your specific neighborhood such as active listings, average price sold over the last year, or appreciation rates, please contact this Fishers Realtor.

Search homes for sale in Fishers by Neighborhood

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775