The Avon Indiana real estate market actually improved year over year for the month of December. More homes sold, although only by a few, the price increase is very positive, especially for homeowners who are tracking the market and want to sell their home this Spring.
I was interested to see how the numbers would pan out after November's deluge of first time home buyers closed. Remember, the original deadline was November 30th for first time homebuyers who wanted to take advantage of the $8000.00 incentive, so many were already scheduled and closed in November.
| Avon- December 2009 |
#Homes Sold | Average Price | Days on Market |
|
2008 |
47 |
$161,732 |
74 |
|
2009 |
50 |
$173,849 |
84 |
| % Difference | +6% | +7% | +12% |
Will this become the normal? It is really anyone's guess, but the year over year report for all home sales in Avon looks like the trend is starting to balance and move upward. Most of the 2009 home prices were below the average for 2008. The average price of homes in Avon has increased over the last few months. It's interesting to note there were only 7 homes sold in Avon in 2009 over $400,000. This is also a trend in housing; not only in Avon, but around Indianapolis and the country.
As we look at the trending line in each of the graphs, we see the gap is starting to open up towards the end of the year. As we move into the new year, it will be interesting to see how homes sales in Avon compare to 2009.
Foreclosure Activity in Avon
In 2008 there were 832 homes sold in Avon with 168 sold as distressed property, which is 20.2%.
- In 2009, there were 753 homes sold in Avon with 166 sold as distressed properties, which is 22%
- We currently have 403 homes for sale in Avon and 63 distressed properties.15.6% is a much lower number to start the year with.
With 403 active Avon homes on the market, the current absorption rate is 8 months, which indicates it is still a buyer's market. We'll see that number reduce as we approach Spring. Average days on market and absorption rate will vary by price range.
As always, if you have any questions about the values of homes in your Avon Subdivision or neighborhood or just want to talk real estate, you can email me or call me.
Copyright 2010 by Paula Henry *Avon Indiana Real Estate Market Statistcs - December 2009*
Originally Posted at Indy Real Etate Talk.
____________________________________________________________________________________________________
Statistics were obtained from the Metropolitan Indianapolis Board of Realtors (MIBOR) data and are representative of Indianapolis homes which were listed on the Indianapolis BLC; private sales are not included. All information is believed to be reliable, but is not guaranteed. Paula Henry is an Indianapolis Realtor with Red Door Real Estate, serving the needs of homeowners in Indianapolis, Speedway, Avon, Brownsburg, Plainfield, Zionsville, Carmel and Eagle Creek. When you're ready to buy or sell your home, you want an agent with a plan for helping you attain your dreams and goals. Contact Paula for your Indianapolis real estate needs.
Home To Indy Team
Indianapolis Realtors
317-605-4174
Great information.
I know we all stopped playing the points here on AR a long time ago, so as I approached 100,000 points it occurred to me that it used to be a big deal when the original AR Heroes passed the milemark but no so much anymore with bloggers posting exactly 5 times every day and commenting exactly 10 times a day etc..
Oh well, this comment will put me over the mark, and although not a big deal anymore thought I'd leave it with one of the originals from the days it meant a lot more. Thanks.
Steve - I'm honored you chose my post to celebrate your "mark in AR history". It's funny how the good ole days are now only three years ago. Best to you! Can't wait to get together again -call when you start your next session :)
Paula
Paula-
We're not seeing rising prices here in Nashvillle, although we have slightly more sales, like you.
Here is an example.
http://nashvillerealestatetalk.com/2010/02/11/hendersonville-market-report-january-home-sales/
In an effort to get more local I've begun posting onmy own Blog outside of AR.
Excellent post! Very nice report!
Thank you very much for sharing.
Adam