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Having a new year has some great benefits. The best one might be that you can leave last year’s baggage behind and start off with a clean slate. A lot of people would probably like to do that with last year. It’s going to be interesting to see how 2010 unfolds. Each one seems to have a distinct personality. It feels like there is even more of a change because it’s a new decade as well. No more single digits finally. I’m feeling very positive about the possibilities that 2010 has in store for all of us.
The holidays have come and gone and for just about everyone, the work week, month and year is off and running beginning tomorrow…me included. Since my focus is on residential real estate I wanted to see where the market is at the start of 2010. I took a look at the statistics from our local real estate board MIBOR using my Realtor search tools. As of this date a search of all residential properties says that there are 13,554 active residential listings for sale right now in the nine county greater metropolitan Indianapolis area. The average listed price of these properties is $208, 189. To me that average list price number sounded kind of high vs. what I thought the average sale price has been running. So I searched for year 2009 and it says that the average sale price actually was $120,811 last year for this same area. Average sale price is always lower than average list price…but that’s a huge difference from the average listed price of properties for sale now. I have a feeling the average sale price will rise this year with the sale prices of some more expensive homes being figured into the average…and fewer inexpensive homes selling than in 2009. Last year, there were an unusual amount of financially distressed properties sold that brought the average sale price down. Just about everyone I’ve talked to says that the economy feels much stronger to them than it did a year ago at this time. Some real estate professionals are predicting that median priced home sales will be better than last year, and upper price range home sales, which were especially slow, should heat up. So it will be interesting to see how things play out. Looking forward to it.
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