Indianapolis Real Estate Market Report 2008 in Review
By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
The Indianapolis real estate market decline from 2008 to 2007 continues through the end of the year. (See graph). We ended the year with a 19% decline in homes sold when compared to 2007. This article is for Indianapolis homes sold between $100,000 and $500,000 to exclude some outlier areas that are either bank owned or luxury homes. It is specifically for Lawrence Township which is just south of the Fishers real estate market; but within Marion County. For December 2008 compared to 2007, we saw a decline of 31% for the month, one of the highest declines in 2008. We also saw the average price per home drop from $195,000 in December 2007 to $180,850 in December of 2008. The only good news came with the average days on the market. The homes in 2007 averaged 112 compared with only 9...
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