Despite a few minor and predictable setbacks versus the previous month, the Fishers real estate market made some impressive strides in October, 2012. Take total pending sales as an example: The most recent total of 97 represents a 24.8-percent decrease versus the previous month’s total of 129. But compared to October of 2011 it is an increase of 7.8 percent. Also, from September through October of this year the average number of pending sales logged each month rose 23 percent relative to this same quarter 1 year ago.
The latest figure for total sales was arguably the biggest area of improvement, especially compared to where the market was this same time 1 year ago. October’s total of 136 closings, while 7.9 percent above the previous month’s total of 126, represents a huge 49.5-percent increase versus October of 2011. And looking at the average number of closings that took place on a per-month basis, from September through October of this year, a 21.6-percent increase was observed relative to this same quarter last year.
October marked the third consecutive month the total number of homes listed on the market fell. This time, it was by 7.4 percent, as there were 538 homes on the market compared to the previous month’s total of 581. What’s more the most recent total represents a 16.1-percent decrease versus 1 year ago—a healthy development for the Fishers real estate market, to be sure. Also, there were, on average, 13.4 percent fewer homes listed for sale each month, from September through October of this year relative this this same 3-month period last year. Another stat to note: 146 of the 538 homes listed for sale in October were new listings altogether. This is down 5.8 percent versus the previous month’s total of 155, although it is 11.5 percent above last October’s total of 131 new listings. The 12-month average number of new listings, including the most recent month, is 162.
Some other pertinent Fishers real estate market stats:
- Fishers homes spent an average of 84 days on the market as of October. This is 13.5 worse—at least from a seller’s standpoint—compared to the previous month’s average of 74 days. Compared to last October’s average of 87 days is a 2.4-percent improvement. Over the past 12 months homes in fishers have averaged no fewer than 65 days on market, and no greater than 132. The 12-month average time on market is 85 days.
- The absorption rate was 25.3 percent based on closed sales and 18 percent based on pending sales.
- There were 4 months of inventory based on closed sales and 5.5 months of inventory based on pending sales.
- The average active price of $298,000 was up 1.7 percent versus the previous month’s average of $293,000, and up an even greater 12 percent versus this same time 1 year ago. The 12-month average active price in Fishers is $286,000.
- October’s average ‘sold’ price was $226,000. This is up only barely versus the previous month’s average of $225,000. However, versus last October’s average of $260,000, it is down 13.1 percent. The 12-month average ‘sold’ price in Fishers is $218,000.
- Buyers paid an average of $79 per square foot in October, up 2.6 percent versus the previous month’s average of $77, although down nearly 4 percent versus 1 year ago. The 12-month average price per square foot in Fishers is 76.
- The sold-list differential based on original asking price was a very respectable 94 percent. This compares very favorably to other nearby towns and cities in the Central Indiana area.
- The sold-list difference based on final asking price was an equally respectable 97 percent. This is actually a slight improvement compared to last October’s average of 96 percent.