The Fishers real estate market in November, 2011 did what it always does this time of year: Grind to a screeching halt. Ok, that was a bit of an exaggeration. But a definite slow-down could be seen as total sales fell 35.2 percent compared to the previous month’s total of 91. Compared to last November sales were down 22.4 percent.
While the news was not great in the pending sales department it was not all bad. Yes, total pending sales fell 12.5 percent, from 88 in September to 77 in November. But this is nevertheless an 8.5-percent improvement compared to 1 year ago. Also, from September through November of this year there were on average a total of 82 pending sales in the pipeline, or 2.5 percent more, compared to this same quarter in 2010.
While there was a 4.1-percent drop in the number of Indianapolis homes for sale in November, the Fishers real estate market experienced a 10.1-percent drop in this same statistical category. This is not to mention the fact that compared to the November of 2010 there were 9.3 percent fewer homes listed on the Fishers market. In a different 1-year comparison, there were on average 623 homes for sale each month from September through November of this year, or 7.8 percent fewer, compared to this same period last year. Count this among several small bright spots for the market in Fishers Indiana.
Other Fishers Indiana Real Estate Market Stats:
- Homes in Fishers spent an average of 105 days on the market in November, or 20.7 percent more time versus the previous month’s average of 87 days. The 12-month average time on market in Fishers, coincidentally, is also 87 days.
- Homes sold for an average of 88 percent of original list price in November, and 96 percent of final list price.
- The average ‘sold’ price was $226,000, while the average active price was $270,000.
- The absorption rate based on closed sales was 10.2 percent, while the absorption rate based on pending sales was 13.2 percent.
- There were 9.8 months of inventory based on closed sales and 7.5 months of inventory based on pending sales.