First Quarter of 2013 Finishes Strong for Fishers Housing Market
The Fishers Indiana housing market finished the first quarter of 2013 in much the same way it started: with Closed Sales shooting up and Average Days on the Market and New Inventory decreasing. The ongoing huge gains in Closed Sales can be attributed to motivated buyers who are eager to benefit while they can from super low interest rates and relatively low home prices.
The Fishers housing market didn't end the first quarter on a perfect note, though. Both Median Sales Price and Average Sales Price faltered in March 2013 (-10.6 percent and -11 percent, respectively) as compared to the previous year, which caused drops in those categories for the quarter as well.
Don't expect Fishers home prices to remain flat or drop further, though, in the upcoming months. Extremely low inventory has buyers competing for homes that are well-maintained, well-presented and well-priced. Competition means multiple offers and multiple offers mean higher prices. Fishers and the rest of the Indianapolis area has suddenly become a seller's market, which means buyers should be ready to act quickly and decisively when they find a home they like. If you're in the market for Fishers home, learn all you can about buying a home in a seller's market; then start searching all Fishers homes for sale!
Anyone who is considering selling a home should also act decisively, while inventory remains low. Start by finding out what your home is worth with a free home value estimate.
Check back next month for the first Fishers housing market report of the second quarter!