The first Fishers Indiana housing market report for 2013 leaves us optimistic that this will be a good year for real estate in general and (finally!) sellers in particular.
Closed Sales continue to skyrocket in Fishers; up 60 percent in January 2013 as compared to January 2012 and up 42.3 percent in the quarter ending in January 2013 when compared to the same three-month period last year. New Inventory, on the other hand, is growing at a much slower pace. January 2013 New Inventory is up just 1.6 percent from the previous year and 6.3 percent for the three months ending in January.
Another telling statistic from the January 2013 Fishers housing market report is that Average Days on the Market have dropped dramatically from last year, both in the month to month and the quarterly comparisons. Average Days on the Market went from 112 between November 2011 and January 2012 to 92 to the same time frame ending in January 2013. Bottom line: buyers are jumping on homes that are presented well and priced appropriately.
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Increased buyer demand and decreased inventory signal that the Fishers real estate market may be shifting to one that favors sellers. According to a report by the National Association of REALTORS, much of the country has already transitioned to a seller's market, and there's no reason to think that Fishers will be any different!
Buying or Selling a Fishers Home
Spring may officially be a few weeks away yet, but the spring home selling season is already here! If you are planning to sell, first find a real estate agent whom you trust. A knowledgeable agent can provide you with valuable information about what your Fishers home is worth, the current housing market and preparing your Fishers home for sale.
If you're in the market for a home in Fishers, this is not the time to be hesitant! Listings that are updated, in good condition and priced fairly are going quickly; sometimes in a matter of days with multiple offers. Learn how to handle a multiple offer situation.
The February Fishers Indiana housing market report should give us a good idea of what's in store for the rest of the year, so be sure to check back!