December sees the buyer’s market in Fishers starting to come in to balance. Here is a short explanation of a buyer’s versus seller’s markets. The “months of inventory” signifies the number of months to sell the current listings on the market. This number is based upon the average monthly sold properties for the immediate previous 12 months for that specific real estate market. A balanced market has a “months of inventory” of 5.5 to 6.4 months.
A buyer’s market occurs when the “months of inventory” is equivalent to 6.5 months or greater. This type of market means that buyers will find more properties and that the sellers are more likely to be flexible with their price and/or the offer they will accept. A seller’s market occurs when the “months of inventory” is equivalent to 5.4 months or less. This market means that there are fewer properties for sale and that seller’s will be less flexible on price negotiation. Each market gives either the buyer or the seller the ability to be in the driver’s seat.
December 2011 saw the Fishers homes for sale stay in a buyers’ market of 6.5 months of inventory. This was down from the November 2011 numbers of 9 months. Indianapolis real estate trended a little worse with 8.3 months of inventory in the Indianapolis area. The good news is that is down from 8.9 from the previous month. While the Fishers, Indiana real estate market is seeing shorter months of inventory but markets have shown an improvement over the previous month.