The Fishers real estate market suffered a 6.1-percent drop in total pending sales in May, 2012. While it would be too early to call it a trend, it does mark the second straight month that pending sales have fallen in Fishers since reaching a 15-month high of 168 in March of this year. Also, May’s total of 138 pending sales represents a 9.2-percent decrease versus 12 months ago. In a more positive comparison, the average number of pending sales logged each month from March through May of this year was up 2 percent versus this same quarter in 2011.
Another positive development came from the fact that total closings rose 15.4 percent versus the previous month’s total of 143. Coincidentally, the most recent figure of 165 closings is also a 15.4 percent increase versus May of 2011. Also, the average number of closings that took place between March and May of this year was up 17.8 percent in comparison to this same period 1 year ago. One final note concerning sales: May marked the fourth straight month that this stat has risen since falling to a 12-month low of 58 in January of this year.
Total listings in Fishers rose 0.1 percent as there were 690 homes on the market in May compared to 689 in April. Not only is this a 3.4-percent increase versus May of 2012, but it represents an increase of nearly 28 percent versus January, 2012. Of course, this latter stat is in part attributable to natural seasonal fluctuations. Finally, the average number of homes listed for sale each month, from March through May of this year, was up 5.5 percent compared to this same quarter in 2011.
Some other interesting Fishers real estate market statistics:
- Of the 690 homes listed for sale in May, 218 were new additions to the market. This number is down a bit compared to April’s total of 222. It is also down nearly 10 percent versus last May’s total of 143 new listings. The 12-month average number of new listings is 170 per month.
- Fishers homes spent an average of 80 days on the market in May, which is a slight improvement over the previous month’s average of 82 days. It is also an improvement over last May’s average of 79 days. Since reaching a 12-month high of 132 days in January of this year, the average time on market in Fishers has fallen in each of the subsequent 4 months—a trend sellers no doubt embrace! The 12-month average time on market in Fishers, Indiana is 87 days.
- The absorption rate based on closed sales was 23.0 percent in May, while the absorption rate based on pending sales was 20 percent.
- There were 4.2 months of inventory based on closed sales and 5 months of inventory based on pending sales.
- The average ‘sold’ price of $229,000 was up versus the previous month’s average of $213,000, and also up versus last May’s average ‘sold’ price of $204,000. The 12-month Fishers average is $223,000.
- The average active price was $290,000. This is up 3.2 percent versus the previous month, and up nearly 4 percent versus last May’s average of $279,000. The 12-month average active price is $274,000.
- The average price per square foot in Fishers was $78. This is not off much from the 12-month average of $76.
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