After reaching a 12-month high of 710 in June of 2011 the total number of Fishers homes for sale has now fallen for 2 consecutive months, most recently falling 3.8 percent, from 706 in July to 679 in August—a development that is hopefully the beginning of a sustained trend, at least insofar as the overall state of the Fishers real estate market is concerned. Even better is the fact that, compared to last August’s total of 731 this is a 7.1-percent decrease in total listings. And, from June through August of this year, there were on average 698 homes on the market, or 3.9 percent fewer, compared to this same quarter in 2010.
But not everything was peachy in Fishers, at least from a real estate standpoint, as total sales fell 9.5 percent, from 147 in July to 133 in August. But in the “big picture” this actually represents a positive 12.7-percent improvement compared to last August’s total of 118 sales. Further still, there were on average 19.2 percent more homes sold per month, or 143, compared to this same period last year, when there were on average just 120 closings per month.
But alas, there was virtually no improvement in the category of total pending sales. In August, there were just 100 pending sales on the books, 24.4 percent fewer, versus the previous month’s tally of 132. This also represents a 14.5-percent decrease versus August of 2010. The only positive stat having to do with pending sales comes in our quarterly comparison, as there were on average a total of 116 pending sales making their way through the pipeline from June through August, or 8.4 percent more, compared to this same 3-month period last year.
Other Fishers real estate market stats:
- Homes in Fishers Indiana fetched an average ‘sold’ price of $238,000 in August, 2011. While this is down barely versus the previous month’s average of $239,000 it is 8.6 percent above the 12-month average of $219,000. Meanwhile, the average active price in Fishers also fell, from $272,000 in July to $264,000 in August. The 12-month average for this stat is $267,000.
- The average time on market improved nearly 16 percent as homes spent an average of 69 days on market compared to the previous month’s average of 82 days. The 12-month average time on market in Fishers is 86 days.
- The absorption rate based on closed sales was 19.6 percent, while the absorption rate based on pending sales was 14.7 percent.
- The median price was $196,000.