Fishers Indiana Real Estate Report - March 2007

By: Michael E Taylor

Fishers Indiana Real Estate Report - March 2007

Listings

In March 2007 Fishers had 168 new listings with an average listing price of $258,458. The number of new listings and the average list price has gone down from the same period last year. In March 2006, there were 353 new listings with an average list price of $265,705. This means the number of listings is down 52% year over year and average list price is down 2.7%.

Pending

In 2007 there were 197 properties then went pending in the Fishers area with average list price of $219,470. The number of pendings from March 2006 were almost the same at 199 while the average list price of a home was $232,208. Obviously, the amount of properties that went pending is almost identical while average list price of a home that went pending in Fishers in March 2007 was down 5.4%.

Sold

132 homes closed in Fishers in March 2007 with an average selling price of $217,655. The average sales price versus list price was just under 97% and the average days on the market was 78. In 2006, 148 homes closed with and average sales price of $231,978. The average sales price versus list price was almost the same, just a little over 97% and the average days on the market for March 2006 was 65. The number of homes sold in Fishers was down 10.8% over last year, the average sales price was down 6.1% and the average house took 13 days longer to sell in 2007.

While all the numbers are down over March 2006, this is consistent with what the rest of the region has seen. Fishers Indiana is still a wonderful place and to purchase a home: Fishers was just voted in Money Magazine's top 100 best places to live in 2006. I believe a big part of the problem is that Fishers is a very desirable place to live and every builder in town has at least one development in the city. With all of these builders vying for buyers and offering crazy incentive to compete against each other, they have a strong impact on the Fishers Real Estate Market. Most builders are hurting for sales right now, land acquisition has slowed, and I believe the market will stabilize in the near future.

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