While Spring and Summer are traditionally the best times to sell a home, consider the advantages of listing during the winter:

• Less Competition
• You probably already straitened up and decorated the home for the holidays
• Tax Refunds are burning a whole in buyers’ pockets!

If you’ve decided to get out in front of the Spring rush, you are going to have to pay extra attention to the staging process.  Here’s a few things to keep in mind:

• Try to encourage showing during the day.  After work showings leave much of your house in the dark.
• Wash your windows!  The extra winter daylight often reveals dirty windows home sellers forgot about.
• Make sure it’s warm.  You want your buyers to stick around.  Even if you aren’t living there, your home needs to be a warm, cozy temperature for showings.
• There are simply winter pleasures that make buyers feel comfortable.  Something as simple as a throw on the love seat, warm comforter on  the bed, or soft music playing can make your buyer feel more at home.
• Sell the cold weather features.  If your streets are regularly plowed or the absence of leaves creates a better view, highlight those features.

The 9houses.com team has lots of experience dealing with Indianapolis Real Estate during the winter.  Contact us for a free no-obligation evaluation of your home’s selling potential.

Hot Topics for the Month of October

Despite what you may be hearing about the overall health of our national housing market, a review of central Indiana’s housing performance over the last three months provides some reasonable optimism. Pending and Closed Sales achieved respectable gains. Price, following the trend established early in the year, remained stable.
July welcomed a return to positive Closed Sales numbers and August followed suit with Closed Sales up 33.5%. Pending Sales, the best indicator of future activity, rose 7.2% for the month of August and 11.2% for the three months ending in August.
While those indicators are moving in the right direction, Months Supply of Inventory remain uncomfortably high at 10.3 for the three months ending in August and 9.9 for August only. That said, inventory levels shrank 6.0% and 8.5% in the three-month and one-month view… a positive supply-side improvement. Housing watchers will continue to look for continued improvements in activity levels in order to bring inventory in line with a more historically balanced market.

Summary of October, 2011 MIBOR Report

Here is a breakdown of the market data from MIBOR’s 13-county service area during the three months ending in October, 2011:

Number of units sold for the quarter compared to last year: (+19.5%)
Marion County (+18.1%)
Hamilton County (+20.0%)

Number of pendings for the quarter compared to last year: (+4.9%)

Number of new listings for the quarter compared to last year: (-10.4%)
Marion County (-10.3%)
Hamilton County (-12.0%)

The average sales price for the quarter compared to last year: (+4.3%)… to $161,780
Marion County (+6.9%)… to $125,044
Hamilton County (-0.8%)… to $256,249

The median sales price for the quarter compared to last year: (+5.3%)… to $126,400
Marion County (+12.2%)… to $100,000
Hamilton County (-4.1%)… to $200,000

The percent of original list price received at sale for the quarter is: (-1.6%)… to 88.3%
Marion County (-2.8%)… to 86.3%
Hamilton County (-0.9%)… to 91.4%

The months supply of inventory for the region as a whole is down to 9.5 months… from 9.5 for the three months ending in October, 2010

Hot Topics for the Month of September

At the height of summer, we’re finally beginning to move beyond comparisons to the 2010 incentive market. While solid evidence that a full recovery is underway still eludes us, the three- and one-month views of our local housing stats provide an encouraging picture.
Price continues its steady upward path, providing some stability to the central Indiana housing market. Median Sales Price remained essentially even for the three months ending in July and ticked up slightly by 1.6% for the month of July. Average Sales Price increased 2.2% for the three-months ending in July and 2.7% for July only.
New listings in the Indianapolis region decreased 19.1% to 3,320 for July only and 9.6% for the three months ending in July.
The most encouraging signs were in Pending Sales and Closed Sales. Pending Sales were up 8.0% in July and 20.9% for the three-month period ending in July. Closed Sales dipped slightly by 1.1% for the same three-month period but posted an impressive 27.9% for the month of July.
Recent economic news, budget deal squabbles and the credit downgrade have many questioning the health of the market, and specifically the role of mortgage rates to lift up the market… and rightfully so. While the future is not definite, it appears these events (particularly the downgrade) have done far more damage to the psychology of home buyers and sellers than to mortgage rates themselves. However, Near-record lows remain, providing an incentive all their own for those that qualify.

Summary of September, 2011 MIBOR Report

Here is a breakdown of the market data from MIBOR’s 13-county service area during the three months ending in September, 2011:

Number of units sold for the quarter compared to last year: (+24.1%)
Marion County (+20.0%)
Hamilton County (+27.7%)

Number of pendings for the quarter compared to last year: (+3.2%)

Number of new listings for the quarter compared to last year: (-15.0%)
Marion County (-16.7%)
Hamilton County (-14.2%)

The average sales price for the quarter compared to last year: (+4.1%)… to $164,172
Marion County (+9.2%)… to $127,952
Hamilton County (-4.3%)… to $254,282

The median sales price for the quarter compared to last year: (+4.1%)… to $128,900
Marion County (+14.4%)… to $103,000
Hamilton County (-2.0%)… to $210,000

The percent of original list price received at sale for the quarter is: (-2.1%)… to 88.6%
Marion County (-3.4%)… to 86.5%
Hamilton County (-1.2%)… to 91.7%

The months supply of inventory for the region as a whole is up to 9.9 months… from 9.5 for the three months ending in September, 2010

Welcome again to another issue of the Indy Housing Market Update… where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Metropolitan Indianapolis Board of Realtors (MIBOR).

Hot Topics for the Month of August

This month’s issue is a few days late, but I thought it was well worth the wait to see how the whole debt-ceiling impasse played out… and how the compromise affected the financial markets. While we may have avoided defaulting on our loan obligations, it’s less clear as to whether or not the credit rating services such as Moody’s, S&P and Fitch Ratings will downgrade our nation’s AAA debt rating. If they do end up downgrading the US government, then there will be major repercussions for American consumers (and borrowers). You can expect interest rates to rise overnight, for everything from credit cards to home loans. The credit rating services are expected to make their decisions in the next 2-12 months based on the level of economic growth… and of course, how Congress and the President behave now that a deal has been made to cut expenditures. Understandably, they actually need proof that our nation’s leaders have the fiscal discipline to get our debt under control.

Why is this important? How does it affect the local housing market?

I firmly believe that a buyer’s personal economic situation will always play a greater role in their decision to purchase a home than all other factors combined, including low interest rates and bargain basement prices on homes. Currently, all economic indicators point to a stalled economy with anemic growth. The one bright spot, however, are the historically low interest rates for new home mortgages. Even on a day when the stock market plummeted more than 500 points, rates decreased to approximately 4.125% for a 30 yr. fixed, conventional loan. But despite those low rates, I’m concerned that many potential homebuyers, particularly those in low-to-medium priced ranges, may hold back from taking the plunge… simply because they’re concerned about their job security, and in other cases, a much lower 401k.

Summary of June, 2011 MIBOR Report

Here is a breakdown of the market data from MIBOR’s 13-county service area during the three months ending in June, 2011:

Number of units sold for the quarter compared to last year: (-13.8%)
Marion County (-18.1%)
Hamilton County (-8.4%)

Number of pendings for the quarter compared to last year: (-4.2%)

Number of new listings for the quarter compared to last year: (-12.4%)
Marion County (-18.2%)
Hamilton County (-3.4%)

The average sales price for the quarter compared to last year: (+2.2%)… to $156,999
Marion County (+0.3%)… to $123,964
Hamilton County (+3.3%)… to $245,005

The median sales price for the quarter compared to last year: (-0.0%)… to $126,000
Marion County (-7.9%)… to $98,500
Hamilton County (+1.6%)… to $195,000

The percent of original list price received at sale for the quarter is: (-3.2%)… to 89.7%
Marion County (-3.9%)… to 88.5%
Hamilton County (-1.9%)… to 92.7%

The months supply of inventory for the region as a whole is up to 10.4 months… from 8.8 for the three months ending in June, 2010

Welcome again to another issue of the Indy Housing Market Update… where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Metropolitan Indianapolis Board of Realtors (MIBOR).

Hot Topics for the Month of September

At the height of summer, we’re finally beginning to move beyond comparisons to the 2010 incentive market. While solid evidence that a full recovery is underway still eludes us, the three- and one-month views of our local housing stats provide an encouraging picture.

Price continues its steady upward path, providing some stability to the central Indiana housing market. Median Sales Price remained essentially even for the three months ending in July and ticked up slightly by 1.6% for the month of July. Average Sales Price increased 2.2% for the three-months ending in July and 2.7% for July only.

New listings in the Indianapolis region decreased 19.1% to 3,320 for July only and 9.6% for the three months ending in July.

The most encouraging signs were in Pending Sales and Closed Sales. Pending Sales were up 8.0% in July and 20.9% for the three-month period ending in July. Closed Sales dipped slightly by 1.1% for the same three-month period but posted an impressive 27.9% for the month of July.

Recent economic news, budget deal squabbles and the credit downgrade have many questioning the health of the market, and specifically the role of mortgage rates to lift up the market… and rightfully so. While the future is not definite, it appears these events (particularly the downgrade) have done far more damage to the psychology of home buyers and sellers than to mortgage rates themselves. However, Near-record lows remain, providing an incentive all their own for those that qualify.

Summary of July, 2011 MIBOR Report

Here is a breakdown of the market data from MIBOR’s 13-county service area during the three months ending in July, 2011:

Number of units sold for the quarter compared to last year: (-1.1%)
Marion County (-5.1%)
Hamilton County (+7.7%)

Number of pendings for the quarter compared to last year: (+20.9%)

Number of new listings for the quarter compared to last year: (-9.6%)
Marion County (-16.5%)
Hamilton County (+0.4%)

The average sales price for the quarter compared to last year: (+2.2%)… to $162,180
Marion County (+0.0%)… to $126,651
Hamilton County (+1.2%)… to $255,258

The median sales price for the quarter compared to last year: (+0.1%)… to $128,175
Marion County (-5.6%)… to $100,031
Hamilton County (+0.9%)… to $205,000

The percent of original list price received at sale for the quarter is: (-3.2%)… to 89.4%
Marion County (-4.3%)… to 87.9%
Hamilton County (-1.9%)… to 92.4%

The months supply of inventory for the region as a whole is up to 10.5 months… from 9.0 for the three months ending in July, 2010

Hot Topics for the Month of October

Despite what you may be hearing about the overall health of our national housing market, a review of central Indiana’s housing performance over the last three months provides some reasonable optimism. Pending and Closed Sales achieved respectable gains. Price, following the trend established early in the year, remained stable.

July welcomed a return to positive Closed Sales numbers and August followed suit with Closed Sales up 33.5%. Pending Sales, the best indicator of future activity, rose 7.2% for the month of August and 11.2% for the three months ending in August.

While those indicators are moving in the right direction, Months Supply of Inventory remain uncomfortably high at 10.3 for the three months ending in August and 9.9 for August only. That said, inventory levels shrank 6.0% and 8.5% in the three-month and one-month view… a positive supply-side improvement. Housing watchers will continue to look for continued improvements in activity levels in order to bring inventory in line with a more historically balanced market.

Summary of August, 2011 MIBOR Report

Here is a breakdown of the market data from MIBOR’s 13-county service area during the three months ending in August, 2011:

Number of units sold for the quarter compared to last year: (+15.1%)
Marion County (+11.9%)
Hamilton County (+18.6%)

Number of pendings for the quarter compared to last year: (+11.2%)

Number of new listings for the quarter compared to last year: (-14.7%)
Marion County (-18.3%)
Hamilton County (-11.6%)

The average sales price for the quarter compared to last year: (+2.3%)… to $165,122
Marion County (+1.7%)… to $126,140
Hamilton County (-1.7%)… to $260,297

The median sales price for the quarter compared to last year: (+3.6%)… to $129,500
Marion County (+4.7%)… to $100,000
Hamilton County (-0.7%)… to $215,000

The percent of original list price received at sale for the quarter is: (-2.5%)… to 89.2%
Marion County (-3.8%)… to 87.3%
Hamilton County (-1.6%)… to 92.3%

The months supply of inventory for the region as a whole is up to 10.3 months… from 9.3 for the three months ending in August, 2010

For a free consultation about the value of your home, or available properties for sale, please contact us.

The Metropolitan Indianapolis Board of REALTORS® (MIBOR) recently released their August 2011 Central Indiana Housing Update. This report paints a promising picture for prices to continue their slow, steady recovery through the end of the year. The average sales price ticked up slightly to $150,797. To review housing data and one-page county reports, click here.

For a free consultation about the value of your home, or available properties for sale, please contact us.

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