Zionsville Real Estate Report - April 2008

Don’t look now but Zionsville real estate has just posted an increase in average sales price for the second straight month in a row. Here is what happened on the Zionsville Indiana real estate market in April 2008 for homes under $700,000:

Despite the fact that 52% less homes sold than last year, Zionsville home prices still managed to increase in average sales price by 9%. In addition, the average days on the market was down 15% over last year, taking 12 days LESS to sell a home in these market conditions. What else is amazing is that the Zionsville market has a fairly average absorption rate of 7.77 which is on par with the number of Noblesville homes on the market. Noblesville posted a decrease in the average sales price and the number of homes sold with the same absorption rate. In contrast, it took an absorption rate of less than 6 to have Fishers homes see an increase in sales price. I think a major factor at play here is new homes, Fishers and Noblesville are much more saturated than Zionsville with new homes. Regardless of what is affecting this, the fact remains that for 2 straight months Zionsville has seen an increase is average sales price and that is a good thing.

If you are interested in purchasing a home in Zionsville or any other part of Indianapolis, visit our Indianapolis homes website to search all homes for sale in Zionsville and the entire central Indiana region.