Fishers Real Estate Report: Closed and Pending Sales Up in February, 2011

By
Real Estate Broker with msWoods Real Estate, LLC

The Fishers real estate market showed early signs of life in February in several statistical categories, including both total closed and pending sales. Starting with sales, there were 8.7 percent more homes sold in February, or 50, compared to the previous month’s total of 46. Versus February of 2010, however, when a total of 75 closings took place, this represents a 33.3-percent decrease in total sales. Also, from December of 2010 through February of 2011 there were, on average 19.8 percent fewer homes sold per month, or 58, compared to an average of 72 sales per month during this same period last year.

February’s total of 70 pending sales also marked an increase of 9.4 percent versus the previous month’s total of just 64. While this is positive news it does come with an unfortunate negative spin: Compared to last February’s total of 119 pending sales it represents a significant decrease of 41.2 percent. Also, from December of 2010 through February of 2011 there were, on average, a total of 63 pending sales in the pipeline, or 31.7 percent fewer, compared to 93 during this same quarter 1 year ago. There has been a total of 100 pending sales per month, on average, over the past 12 months.

The total number of Fishers homes for sale also rose, albeit a slight 1 percent, from 614 in January to 620 in February, 2011. Compared to February of 2010 this is a 2 percent increase. Compared to the monthly average of 571 listings from December of 2009 through February of 2010 there were 8.3 percent more homes on the market during this same quarter most recently. Of the 620 homes for sale in Fishers 142 came in the form of new listings. This is a 14.4-percent reduction in this statistical category. This is also 21 percent below the 12-month average of 180 new listings per month.

Some other Fishers real estate stats:

  • The average ‘sold’ price of $229,000 rose 15.6 percent versus the previous month’s average of $198,000. Meanwhile the average active price of $255,000 was down just 1.5 percent from the previous month’s average of $259,000. The 12-month average active price is $276,000, while the 12-month average ‘sold’ price is $216,000.
  • There were 12.4 months of inventory on the market based on closed sales, and 8.9 months of inventory based on pending sales.
  • The absorption rate was 8.1 percent based on closed sales and 11.3 percent based on pending sales.
  • The median price was $173,000.

To view other real estate reports, including up-to-date charts and date please visit this 2-year Fishers real estate market reports page. View the original report here. Read previous Fishers market reports:

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