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How Much Have Prices Really Declined?

by O'Neil & Company Realtors

Good Monday Morning! Our Fall weather seems to have arrived as the leaves are starting to change and the mornings are becoming increasingly more brisk. Sales are up substantially over what we've seen in the past few weeks: Hamilton County had 78 homes go under contract and Marion County saw 218 homes go under contract for the week ending 9/25.

The Metropolitan Indianapolis Board of Realtors has released the August numbers and on the surface they they don't look too good, but we are trending in the right direction. The numbers that are often released are exceptionally broad in measure. When valuing real estate trends it is critical to look locally as all real estate is local in nature. The chart below breaks down the numbers by city as well as county. For an accurate valuation of your home, please CLICK HERE.



Still no word on extending the $8,000 home buyer tax credit. If you know someone looking to get this credit, I urge you to act now. The system will get log jammed at the end of November if measures are not taken to extend the credit. A delay in closing could be very costly. 

Have a great week!

Monday Morning Trends

by O'Neil & Company Realtors

Good Monday Morning!

Snow!!! Our central Indiana weather is not predictable in early April!

There is some light beginning to flicker in our real estate market.  The number of homes for sale is declining significantly and there are all of a sudden many more people out there looking seriously.  Our historically low mortgage interest rates and  the very affordable price of homes out there is finally getting people to take a hard look at purchasing a home right now. 

Has the market hit bottom?  Only time will tell. As I have said many times over that you will never know that we have hit bottom until we begin climbing up the other side.  I would think that there is a good chance that we have hit bottom and if we see homebuyer activity levels continue their increase we could quickly begin the climb out of this. Last week in Marion County 273 homes went under contract while Hamilton County saw 88 homes go under contract. 

The chart below details the relationship between inventory and price in Carmel. Click for real estate price charts for Fishers, Noblesville and surrounding areas. Note: this is the median price and an early upward trend is evident as more expensive homes begin to sell. Most encouraging is the downward trend in inventory. 

Have a great week!

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Indianapolis Real Estate Trends

by O'Neil & Company Realtors

Carmel and Hamilton County real estate trends:

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CARMEL Real Estate Market (46032)

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CARMEL Real Estate Market (46033)

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FISHERS Real Estate Market (46038)

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INDIANAPOLIS Real Estate Market (46220)

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INDIANAPOLIS Real Estate Market (46240)

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NOBLESVILLE Real Estate Market (46060)

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Displaying blog entries 1-3 of 3

Contact Information

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O'Neil & Company
Encore Sotheby's International Realty
12411 N Pennsylvania St., Suite 300
Carmel IN 46032
317.848.0008
Fax: 317.660.4574

 

 

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