Southern Indiana Real Estate Market Report 11/09/08

Well it's official. I don't like cold weather! Where did my sunshine go? Oh well, might as well get used to it because it's probably going to be a while before it comes back. Hope everyone is having a wonderful week. We had some major news announced today during our sales meeting. I am pretty excited about it. I'm not going to tell anyone what it is yet, but it will be awesome for both buyers and sellers. More to come soon!

Below are the numbers for the Southern Indiana Area. You can also view the numbers for the Greater Louisville area as well as the Elizabethtown / Ft. Knox areas by clicking here. As always, if you have any questions about these numbers or would like to discuss them further, please don't hesitate to call or email me.

The numbers for Southern IN are as follows as of Sunday, November 9, 2008:

Active Listings Stats

• 2,498 homes currently on the market
• $172,352 is the average list price of those homes
• There is currently 14.9 months of inventory*

Last 30 Days Stats

• 168 homes sold
• The average sales price was $119,340
• The Sales Price vs. List Price was 96%**
• The average Days on Market was 109***
• There were 457 new listings on the market
• There were 394 listings that were either canceled, withdrawn or expired

Last 12 Months Stats

• 2,682 homes sold
• The average sales price was $130,059
• The Sales Price vs. List Price was 96.4%**
• The average Days on Market was 106***

*Months of inventory is calculated by dividing the current inventory by the amount of homes sold the previous 30 days

**Sales Price vs. List price is determined by dividing the average sales price into the average list price of homes sold

***This number does not reflect the times a home that is sold has been on the market before by (1) it's owner, (2) another Realtor whose listing expired, or (3) a listing cancelled and then relisted to generate new interest. This number in most instances does not refleect the number of days from contract to close which averages 30-45 days for most closings. In order to have a true picture of the date property is listed to the date of closing a seller would need to add prior "days for sale" activity to the above average days on market plus 30-45 days from contract to close. The above is not reflective of a specific area but takes into account all homes on the MLS that sold in the last 30 days and the last 12 months. Your agent can give you a specific report tailored to your area.

Southern Indiana Area is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River. Information is deemed reliable but not guaranteed. These statistics include single family homes and condos only.