Inconsistency Reigns

The only constant so far in Fishers housing market reports for 2012 is that Median Sales Price and Average Sales Price stubbornly refuse to trend upward. Closed Sales, Average Days on Market and Percentage of List Price Received at Sale for the most part show improvement when comparing the same months from 2012 and 2011, but not consistently.

Fishers Housing Market Report July 2012April is the only month this year in which both Median Sales Price and Average Sales Price increased as compared to the same month the previous year.

In a three-month year to year comparison of May through July, sales prices fared better, with Median Sales price up very slightly (+1.6%) and Average Sales Price down very slightly (-1.5%).

The highest sales price in Fishers for July 2012 was $815,000 for a 4 bedroom, 6 bath, 6223 square foot Geist waterfront home in Ashford Pointe; the lowest sales price was $9,099 for a bank-owned 3 bedroom, 2 bath bungalow in Luxhaven.

Until prices stablize, we can't say the Fishers housing market has completely turned the corner. However, decreasing inventory and fewer days on the market indicate that turn may be coming up. Serious buyers should take note and plan to take advantage of affordability and low, low mortgage rates while they can.