Zionsville, IN

New Indianapolis home builder Ryan Homes is set to open a new community in Zionsville on the weekend of August 7th and 8th. The new home builder is offering incentives that include a free finished basement or sunroom and upgraded appliances for purchasers who buy before the end of August. The community offers one of the lowest price points for a new home in Zionsville and is adjacent to the luxurios Willows subdivision.

The homes in Willow Glen will be all ranch and 2-story single-family homes ranging from 2,020 to 3,300 square feet, plus a basement. All Willow Glen homes, which start in the $220’s, boast 4-6 bedrooms, 2.5+ baths, 2-car garage, all with a full-brick front. Plus, every home is 100% Energy Star qualified for lifelong energy cost savings.

Pleae contact us anytime for more information on this community or any other community in Zionsville.

Willow Glen By Ryan Homes

The Bainbridge Plan by Ryan Homes at Willow Glen

The town of Zionsville, Indiana was indeed in the minority in the category of total sales. The total number of homes sold rose 27.3 percent, from 33 in April to 42 in May, 2010. Compared to a total of 49 sales in May of 2009, however, this was a 14.3 percent decrease. Still, this is not bad performance considering the recent expiration of the federal tax credit for new home purchases. But while closed sales were on the rise the total number of pending sales suffered a 21.4-percent decrease, dropping from 42 in April to 33 in May. Of the 15 central Indiana towns and cities we regularly analyze, Zionsville is the only one whose percentage increase in total sales rose was greater than that of its percentage decrease in total pending sales. Zionsville, you are the statistical victor!

One common theme around central Indiana is that of rising listings and falling sales. Apparently, the city of Zionsville never got than memo because the total number of listings fell 0.6 percent, from 344 in April to 342 in May. This matches exactly last May’s total of 344 Zionsville homes for sale.

Residential Zionsville real estate sold for an average of 94 percent of list price in May compared to 97 percent the previous month. This is one metric that has varied a bit more compared to other nearby cities and towns, having fallen as low as 91 percent (December, 2009) and risen as high as 97 percent (October, 2009 and April, 2010) within the past 15 months. The 12-month average sold-list differential is 95 percent.

Some other statistical tidbits:

• The average ‘sold’ price of $337,000 was 61 percent that of the average active price of $552,000, suggesting that lower-priced homes are selling better than higher priced ones. The median price was $250,000.
• The average time on market dropped 11 percent, from 100 days in April to 89 days in May. The 12-month average time on market for Zionsville is 95.
• The average price per square foot rose 19.5 percent, from $82 in April to $98 in May. The 12-month average price per square foot in Zionsville is $90.
• There were 8.1 months of inventory based on closed sales and 10.4 months of inventory based on pending sales.
• The absorption rate was 12.3 percent based on closed sales and 9.6 percent based on pending sales.

67 showings in 64 days. Surely that's some sort of record! I know our Indianapolis real estate team has never before had a listing generate so much activity - for so long! During the listing period there were several days with three or more showings. Our poor sellers practically needed a hotel room!

Imagine if this listing were in a state that required the listing agent to be present at EVERY SHOWING, as I recently learned is the case for my friend, a Realtor in Rhode Island. It would be a full time job. Seriously, how would you keep up?

Happily for us all, this fantastic Zionsville Indiana property is SOLD! For a few days at least, our sellers can call it home again!

Zionsville Indiana real estate

With its higher-than-average prices in a less-than-ideal economy the Zionsville real estate market suffered a few setbacks in the April, 2010. The total number of homes sold dropped from 39 in March to 32 in April—a decrease of 17.9 percent. While this is not great news it should be noted that this is still a net increase of 18.5 percent compared to April of 2009. Adding to the disappointment was the total number of pending sales, which dropped 5.4 percent from 37 the previous month to 35 in April. This was also a decrease of 12.5 percent compared to April of 2009. The last thing you want as a seller in a tough market is more listings; but this is exactly what happened in April as there was a 3.6-percent increase in the total number of Zionsville homes for sale. This was also a 1.5-percent increase over last April’s total of 369 listings.

Imagine having to wait 5 months to sell your home: This was exactly the plight of Zionsville, Indiana sellers as homes spent a 15-month high of 152 days on market in February, 2010. Fortunately, there was a 38-percent improvement in this category as homes spent a ‘mere’ 94 days average time on market in April, 2010. The 12-month average for this metric is 96 days.

Some other pertinent stats:

• The average price per square foot of $83 was down 6 percent from the 12-month average of $88.
• The average ‘sold’ price dropped 23 percent, from $354,000 in March to $372,000 in April. The 12-month average at this time, including April, was $334,000.The average active price was down 3 percent, from $535,000 to $547,000 over this same time.
• The absorption rate based on closed sales was 10.8 percent, while the absorption rate based on pending sales was 9.8 percent.
• There were 9.3 months of inventory based on closed sales, while there were 10.2 months of inventory based on pending sales.

The number of pending sales in Zionsville, Indiana dropped 2.8 percent, from 36 in February to 35 in March, 2010. This is also a 12.8-percent decrease from this time last year when there were 40 pending sales.

Meanwhile, the good news for sellers was that there was an increase of 61.9 percent in the total number of homes sold, from 21 in February to 34 in March. Compared to the 29 sales of last March this was an increase of 17.2 percent. This is also a 161.5-percent increase compared to 15 months ago, when just 13 homes sold in January of 2009.

The number of Zionsville homes for sale jumped 14.9 percent, from 289 listings in February to 332 in March. This is just a slight increase over last March’s total of 330 listings.

The average ‘sold’ price for homes on the Zionsville real estate market was $376,000. While this is down just 3.3 percent from the previous month it is up 10.9 percent from the 12-month average ‘sold’ price of $339,800. The average active price in March was $535,000.

Home buyers have always paid a bit more per-square-foot for Zionsville homes compared to homes in other Central Indiana cities. The average cost per square foot was $92 in March compared to $90 a year ago. This is just slightly above the 12-month average of $89.

In other good news for the Zionsville real estate market, the absorption rate based on closed sales increased 2.9 percent, from 7.3 percent in February to 10.2 in March.

As expected, a decrease in the total number of pending sales in March combined with a 14.9 increase in available inventory resulted in a lower absorption rate based on pending sales 10.5 percent in March.

Additional Zionsville Real Estate News