Here is breakdown of two neighborhoods in Zionsville Indiana, Spring Knoll and Stonegate:
This is what has happened year to date in the Spring Knoll neighborhood in Zionsville:
2007 |
2008 |
% Change |
|
| Active | N/A |
8 |
|
| Homes Sold | 12 |
9 |
-25% |
| High Selling Price | $370,000 |
$384,500 |
4% |
| Low Selling Price | $287,500 |
$321,900 |
12% |
| Average Selling Price | $328,996 |
$354,988 |
8% |
| Days on Market | 155 |
60 |
-61% |
| Price Per Square Foot | $112 |
$114 |
2% |
Here is a look at what has happened in the more upscale Stonegate neighborhood in Zionsville:
2007 |
2008 |
% Change |
|
| Active | N/A |
28 |
|
| Homes Sold | 16 |
20 |
25% |
| High Selling Price | $1,800,000 |
$930,000 |
-48% |
| Low Selling Price | $325,324 |
$231,672 |
-29% |
| Average Selling Price | $733,010 |
$554,424 |
-24% |
| Days on Market | 60 |
118 |
97% |
| Price Per Square Foot | $189 |
$163 |
-14% |
As you can see Spring Knoll is faring far better than Stonegate this year compared to last. There are most likely two reasons for this; Stonegate is much higher end neighborhood and the neighborhood is still under development. This means there is competition not only from other resales on the market, but also from builders. In addition, higher end homes almost always take longer to sell and the absorption rate for luxury homes is much higher than those around the average sales price. That being said, Stonegate did actually see an increase in the number of homes sold this year while Spring Knoll saw a decrease.
If you are looking for home in the Zionsville area, please visit our Zionsville homes website to search all homes available. You can also visit our Zionsville Information blog to keep up to date on what is going on.
