Although the Fishers housing market ended 2012 on a low-key note, with neither a bang nor a whimper, there already are signs that 2013 could be the uptempo year we've been waiting for!
Fishers Housing Market Report | December 2012
In a month which is typically slow for real estate, the Fishers housing market report for December 2012 showed some nice gains in sales numbers from December 2011. Notably, Median Sales Price rose 5.7% from the previous year, and Average Days on the Market dropped from 100 to 94.
New Inventory was down 12.5% in a month-to-month comparison of December 2012 to December 2011. Unlike neighboring Carmel where New Inventory has been consistently declining, Fishers New Inventory has been consistently gaining. It's hard to say whether the December drop reflects that fact that it's December - a month in which people don't put their house on the market if they can avoid it - or if it's the beginning of the nationwide inventory shortage experts are predicting for 2013.
Fishers Housing Market Report | 2012 Summary
The 2012 year-end Fishers housing market report showed no huge losses or gains compared to 2011. Throughout 2012, Closed Sales was the category that increased most consistently in the Fishers housing market, and that is reflected in the year-end summary. For 2012, Closed Sales were up 17.4% in Fishers as compared to 2011. That number signals increased buyer confidence and ability, and could be an indication that the Fishers housing market really is on the upswing.
Fishers Housing Market | 2013 Predictions
If Closed Sales continue to rise as they did throughout 2012 and if New Inventory shrinks as experts predict it will, the Fishers housing market could quickly turn to one that favors sellers. Already, Fishers real estate agents are reporting that desirable listings (updated homes in good condition and priced right) are flying out the door.
The spring selling season is just around the corner. If you are planning to sell, first find out what your Fishers home is worth by asking your real estate agent to prepare a comparative market analysis. This report will help you price your home correctly by providing information about comparable Fishers homes currently on the market or that have recently sold in your area.
Check back next month for the first Fishers housing market report of 2013!