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While all signs were up for the Zionsville real estate market in March, this isn’t necessarily a good thing when it comes to the number of homes on the market, at least not in this market. The total number of Zionsville homes for sale rose 10.2 percent, from 255 in February to 281 in March, 2011. While this is not great news for sellers and listing agents, it is not particularly bad news per se since it represents a 15.4-percent decrease in total listings versus last March’s total of 332. In another comparison, the total number of homes listed for sale per month was down 13.3 percent on average relative to this same period 1 year ago.

But just as more homes made their way to the market in March, so did more homes find their way off the market as the total number of homes sold in Zionsville rose a significant 63.2 percent, from just 19 in February to 31. Compared to last March’s total of 39 sales, however, this represents a decrease of 20.5 percent. Looking at sales from a quarterly perspective, the average number of homes sold on a monthly basis from January through March of 2011 rose 4.2 percent versus this same quarter 1 year ago.

Total pending sales were also up in Zionsville Indiana as there were 32 pending transactions at some point in the processing queue in March—39.1 percent more—compared to the previous month’s total of 23. Compared to last March’s total of 36, however, this is an 11.1-percent decrease. Still we are talking about a difference of just 4. Looking at the number of pending sales that were in the works from January through March of 2011 we see that there was a 15.2 percent drop versus this same quarter last year, or 28 versus 33 respectively.

Some other pertinent Zionsville stats:

• The absorption rate based on closed sales rose from 7.5 percent in February to 11 percent in March. Over this same period the absorption rate based on pending sales rose from 9 to 11.4 percent.
• There were 9.1 months of inventory based on closed sales and 8.8 months of inventory based on pending sales.
• The median price in March of $323,000 was 7.7 percent below that of the previous month’s $350,000.

For up-to-date stats, including illustrative charts and graphs, please visit the 2-year Zionsville real estate market statistics report here.

Starting with total sales, there were just 27 homes sold in December, or 12.9 percent fewer, compared to the previous month’s total of 31. This was also unchanged from last December’s total of 31. Moreover, the average number of homes sold in Zionsville during the fourth quarter of 2010 was 16.5 percent lower than that of 2009. But these figures shouldn’t come as a surprise considering that total pending sales had begun to fall in November; and fewer pending sales almost always translates into fewer future sales.

Speaking of pending sales, there were 32 percent fewer of them in December versus the previous month, or 17 versus 25 respectively. Relative to last December’s total of 17 the change is less pronounced at just minus-10.5 percent. There were, on average, 6.9 percent more pending sales per month during the fourth quarter of 2010 compared to that of 2009. In most Central Indiana cities there have been decreases in available inventories in December, 2010 and Zionsville was no exception. Total listings dropped 8.5 percent as there were just 269 homes listed for sale in Zionsville compared to 294 in November. December’s total also represents a 4.3-percent decrease from the last December’s average of 281 listings. Even when compared quarterly there were fewer listings, 1.5 percent fewer to be exact. There were on average 291 homes listed for sale per month in Zionsville during the fourth quarter of 2010 compared to 295 in the same quarter, 2009. No doubt, sellers and real estate agents across Central Indiana welcome the prospect of continued decreases in available inventories with open arms. One thing that sellers probably weren’t too happy with in December was the average time spent on market. Homes spent an average of 109 days on market, or 9 percent more, in December compared to ‘just’ 100 the previous month. But as bad as this might sound it pales in comparison to the record 15-month high of 162 days on market that was set just two months prior, in October, 2010. The 12-month average time on market is 108 days. Some other statistics for the Zionsville market:

• At 96 percent, the average sold-list differential in December was unchanged from the previous month and 2 percent above the 12-month average of 94 percent. Compared to last December’s average of 91 percent this is quite an improvement. Surprisingly, the this metric has hit 91 percent not just once, but twice during the past 12 months, as homes went for an average of 91 percent of list price in August as well.
• December’s average ‘sold’ price of $362,000 was up nearly 32 percent from the previous month’s average of $275,000 although it was down 16.2 percent from last December’s average of $432,000. December’s figure was also nearly 7 percent above the 12-month average ‘sold’ price of $339,000.
• The average active price for homes in Zionsville rose 1.4 percent, from $543,000 just one month prior to $551,000 in December, 2010. This is almost 1 percent below last December’s average active price of $556,000 and 1.1 percent above the 12-month average of $551,000. Over the past 15 months the average active price in Zionsville has never fallen below $538,000.
• There were 10 months of inventory based on closed sales while there were 15.8 based on pending sales. The 12-month averages for these figures are 11.4 and 10.8 respectively.
• The absorption rate based on closed sales dropped just a bit, from 10.5 percent in November to 10 percent in December. The absorption rate based on pending sales dropped even more, from 8.5 percent to 6.3 percent over this same period.
• The median price was $343,000.

For up-to-date charts and graphs showing market performance in different statistical categories please visit the main Zionsville real estate market report page. View the original article here.

We covered searching for Zionsville Indiana homes for sale by the school district and how to search for short sales and foreclosures. Now, you may want updated information about the market overall.

If you are looking at a house for sale in Zionsville Indiana and want to get an idea of how it compares to the Zionsville real estate market overall, we invite you to check out our Zionsville statistics page. The stats page gives detailed information about all active homes in the Zionsville market.

Our stats pages can be found in the left column of links on our home page and just about any other page on the site under the button "Market Statistics".

After clicking on the Zionsville Statistics button, you will see updated information about the active listings and information about how many homes were listed in the last 24 hours. The stats are updated daily and include the number of active listings, days on the market, highest and lowest price, highest and lowest square footage, average price, average square footage, and average price per square foot.

Please keep in mind that this information is helpful but you will really need more specific comp information for the home you are considering. And, of course, the team at ICON can help with that.

At IndyHomeSpecialist.com we try to come up with intuitive ways to search for a homes. One of our features allows you to search by the metro Indianapolis school district of your choice. If you are searching for a home in metro Indianapolis and want to stay in a particular school district, such as the Zionsville school district, you can easily utilize our dropdown functionality at the top of our home page labelled schools.

Below is a briefing on Zionsville Schools:

Zionsville Community Schools served 5,360 students during the 2008-2009 school year. This district consists of five elementary schools that provide education for students in kindergarten through the fourth grade; one middle school for students in the fifth through eighth grades; and one high school for students in the ninth through twelfth grades.

Read more about Zionsville Schools at our Indianapolis Real Estate Blog.

You may be looking for below market value homes in the Zionsville Indiana area. If so, we tried to make it easy for you to browse by creating a page dedicated to foreclosure, bank owned, and short sale homes in Zionsville. On the home page, simply click the button on the top that says "Foreclosures" and pick Zionsville. The following page will take you to all distressed properties in that area. Keep in mind, not all foreclosed homes are the same, some are ready for occupancy and some need quite a bit of work.

Here is a bit more information about Zionsville Indiana:

Zionsville, a northwestern suburb of Indianapolis, is home to one of the state’s top school systems. It is also one of few remaining U.S. towns that has preserved its brick main street. A point of pride, Zionsville’s brick road is lined with upscale and vintage shops, restaurants, and cafes. Other Zionsville streets are lined with trees and historical homes. To add to its small hometown feel, the majority of businesses in Zionsville are family-owned. Zionsville attractions include several art galleries and studios, riding stables, a private swim club, and a public golf course.