Indianapolis Real Estate Market: Summer 2007
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A recent analysis of the Indianapolis real estate market was conducted by examining popular housing markets in the metro area. The housing markets of Fishers, Carmel, Downtown, and Indianapolis Townships were observed for this survey. Real Estate agents reported there was a slight boom causing the market to shift and become more of a buyers market at this time. There is a good supply of inventory available, consisting primarily of single family homes. Due to this, there is a high percentage of single family residences being sold. The average time on the market is 30-60 days. Although, the area is currently a buyers market, sellers are receiving 90-95% of their asking price with the average home price ranging from $70,000-$200,000.
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Although, nationwide most housing markets are slowing down, the Indianapolis area shows a slight increase in buying and selling activity. The market is slowing down as summer approaches. The current boost can be attributed to the steady and growing job market. Compared to last year at this time, the Indianapolis housing market is up 1-5%. With great schools, family-friendly neighborhoods, and a surge in urban development (shopping, entertainment, theaters) upholds the Indianapolis area as a great place to relocate. | |