Indianapolis East Side, Christian Park Real Estate Market Activity Comparison
Here are some comparisons for Indianapolis' Christian Park area regarding home sales.
| 2006 | 2007 |
# Listed | 165 | 157 |
# Sold | 79 | 52 |
Avg. LP | $ 63,738 | $ 59,878 |
Avg. SP | $ 57,322 | $ 51,068 |
DOM - L to S | 70 | 72 |
Expired | 83 | 55 |
The decline in the sale price (SP) and list price (LP) from 2006 to 2007 could be attributed to a larger number of foreclosures in the area which generally sell below current market value.
The number of sold properties in 2007 equals 33% of the properties listed. For 2006, 47.8% of the homes listed actually sold. This indicates that a larger number of listed properties in 2007 were withdrawn from the market.
The number of expired listings in 2007 declined to 35% from 50% in 2006.
Average days on the market from list to sale remained fairly stable for 2007 at 72 days. This is a shorter period of time on the market compared to all of Indianapolis which averages 102 days.
I am going to be optimistic and predict that prices for our area will remain stable or rise slightly in 2008. The percentage of homes sold will probably increase due to pent up buyer frustration and interest rates that are predicted to remain very affordable in the 6.75% to 7.25% range.
Please contact me with any questions about the real estate market or if you would like specific information pertaining to your home. Let's have a great 2008.