Zionsville Real Estate Report

Zionsville homes for sale spent an average of 171 days on market compared to just 99 days in February– a whopping 72.7-percent increase.  This is also a 59.8-percent increase over last February’s average of 107 days on market.  In other not-so-good news for sellers, the list-sold differential of 91 percent matched a 15-month low that was set just two other times, in January (’09) and December (’09).  This is down 6 percent from 97 percent in January of 2010 and down 3.5 from the 12-month average of 94.5 percent.

Though the indicators are early and not as pronounced as those of other Central Indiana cities, the Zionsville real estate market may have already begun its springtime ascension as there was an increase in the total number of homes sold, with 18 in February compared to 10 the previous month.  This is also a slight improvement over last February when there were a total of 17 homes sold.  The total number of pending sales dropped from 26 in January to 24 in February.  There were also 24 pending sales in February of 2009.

Buyers paid an average cost per square foot of $100 in February.  This matches exactly the total paid in February of 2009 and is up 31.5 percent from the previous month’s average of $76 per square foot.

The average ‘sold’ price also jumped from $326,000 in January to $412,000 in February.  This is a 7.3-percent increase over last February’s average of $384,000.

Overall, the market for homes in Zionsville, Indiana should improve as spring draws closer and temperatures rise.