Sometimes less is more. The Fishers housing market report for June 2012 shows significant drops in Average Days on Market (-10.3%) and New Inventory (-14.3%) as compared to June 2011, which equates to good news for sellers. More good news for sellers: a sizeable hike in Closed Sales and a slight rise in Percentage of List Price Received at Sale. Not so good news for sellers is that both Median Sales Price and Average Sales price decreased as compared to a year ago.
If New Inventory continues to shrink, as it has for the past three months, it could signal a shift in the Fishers housing market from a buyers’ market to one that is more balanced between buyers and sellers. Already, many Fishers properties are receiving multiple offers and spending just days on the market. Multiple offers have been scarce for the past several years, so buyers should brush up on strategies for winning a multiple offer situation.
Activity in Fishers for June 2012 mirrors the Hamilton County housing market as a whole. According to the Metropolitan Indianapolis Board of REALTORs, housing activity throughout Central Indiana has steadily increased for the first half of 2012.
Both local and national real estate experts believing the tide is finally turning in the housing market. Could they be right? Check back next month to see what the numbers have to say about the Fishers Indiana housing market!