Michael Taylor

Here is a look at what happened on the Indianapolis real estate market in January 2009 for homes under $500,000:

It looks like 2009 is starting off with a continuation of 2008’s trends: market activity is way down and the average sales price is also down. We must also understand that this is a very broad look at the market as this report covers all homes in all price ranges in the city of Indianapolis. In addition, this report is not indicative of the overall metro Indianapolis market. I have not run the numbers yet, but I have a feeling that market reports of Carmel Indiana real estate and Fishers real estate will show some different numbers.

If you are looking for a home in Indianapolis, please visit our website to search all home for sale. You can also visit our Indianapolis real estate blog to stay up to date on what is happening with the market.

Everybody wants, or at least think they want, foreclosures right now and foreclosures in Hamilton County are in high demand. There are definitely not as many foreclosures in the Hamilton County area as Indianapolis, but there are some. Here is a quick run down on what active and sold in 2008 for various areas of Hamilton County and Zionsville:

Carmel Indiana Foreclosures:

Fishers Indiana Foreclosures:

Noblesville Foreclosures:

Westfield Indiana Foreclosures:

Zionsville Foreclosures:

You can always visit our main Indianapolis homes for sale website to see all real estate and foreclosures in the Indianapolis area.

Since foreclosures are such a hot topic right now, I thought I would share a few statistics about the Indianapolis foreclosures market:

- There are currently 587 foreclosures and bank owned homes for sale.
- The average asking price for these is $69,291.
- There are currently 336 pending foreclosures with an average asking price of $53,877.
- In the past 12 months, 3117 bank owned homes have sold in Indianapolis.
- The average sales price for the past 12 months was $53,877.

As you can see the foreclosure market in Indianapolis is substantially below the average for the rest of the Indianapolis real estate market. Another factor that is not considered here is Indianapolis short sales. A short sale is when the owner has fallen behind on the mortgage and they owe more than the house is worth. These short sales have a big impact on the market as well. I will also be posting about Hamilton County foreclosures and expect to see a whole different set of numbers. You can always visit our Indianapolis real estate blog to stay up to date as well.

Here is look at what happened for homes in Pike Township Indianapolis under $500,000 for December 2008:

It looks we have a case where a single month can be misleading. The average sales price was down by far the most this year, posting a 30% decrease over last year. In addition, the number of homes sold appears to be up 7% over last year. Both of these numbers are contrary to what has happened the rest of the year in Pike Township real estate. At the year’s end, we saw an average of 17% fewer homes being sold and an 8% decrease in average sales price since last year. As you can see, December’s numbers are way off the averages for the year and as a result should not be viewed as an indictor of the market.

If you are looking to buy or sell a home in Pike Township, please visit our Indianapolis real estate website to learn more about what we offer and to search all homes for sale. You may also want to take a look at our Indianapolis foreclosures and Indianapolis short sales pages to see what is available for bank owned properties.

Here is a look at what happened for Washington Township homes in Indianapolis under $600,000 for December 2008:

No big surprises here for December in Washington Township; the average sales price was off by 5% while the number of homes sold was down 6%. This make the end of year numbers for Washington Township a decrease in the number of homes sold by 20% and a decrease in average sales price by 5% over last year. Overall, that is not so bad in this market.

Despite tough times Washington Township remains among the most desirable in the Indianapolis area. Thanks to Broad Ripple homes and Meridian Kessler homes for sale, just to name a few, Washington Township real estate remains in high demand. If you are considering buying or selling a home in or near Washington Township, please visit our Indianapolis homes for sale website, to learn more about us and to search all homes for sale