Looking at the above chart for the Fisher’s real estate market we see a bit of a sinusoidal wave pattern in every metric. Starting with the total number of homes sold, troughs can be seen in both Januarys. Extrapolating from last year’s figures one would expect that the 65 homes sold in February of 2010 marked the beginning of what will become a crest in home sales that should peak sometime around the middle of the year. Likewise, the 93 total pending sales listed for February are up almost 10 percent from the previous month, albeit down approximately 12 percent from the 106 pending sales in February of 2009. The total number of Fishers homes for sale increased approximately 9.5 percent from last month to reach 608. This is down roughly 8.6 percent compared to this same time last year.
Homes that sold in February had spent an average of 81 days on the market compared to the average of 68 days for homes that sold the previous month — an improvement over last year’s total of 95 days spent on market. Also, compared to February of 2009 there was a slight improvement of roughly 1 percent in the list-sold price differential, with sellers realizing 96 percent of their asking prices.
At $73, the average cost per square foot paid by home buyers over the past year in Fishers, Indiana has remained remarkably stable, never going lower than $72 and never going higher than $80 per square foot.