Home Buying in 46037>Question Details

Zp, Home Buyer in 46037

market for higher priced homes?

Asked by Zp, 46037 Mon Jan 4, 2010

Sorry but some of the agents on here are way too chipper with the current market in fishers. I have a hard time believing the homes that I am currently looking at (600k - 1M) are selling, especially after finding that many have been listed 100 days here on trulia.

I've watched a particular home drop from the high sixes down to the mid fives over the course of the last 5 months and yet it is in a desirable neighborhood with pool, walkout basement, etc. Still listed. I'll wait as it continues to drop.

In regard to the question about the home listed @ 599K for two years nearly every agent seemed to believe this market is still ideal? Are you kidding me?

So please enlighten me. And also wondering how lending is at the moment? Mainly for my personal knowledge for competition in buying these homes as I will be paying cash.

Help the community by answering this question:

Answers

2
thank you for taking the time to compile that data.
0 votes Thank Flag Link Mon Jan 18, 2010
Your question is great.

I wanted to get you some feedback sorry it took so long for someone to respond. Here is the current insight for homes in Fishers between $600K and 1 million. There are 25 homes for sale and the average days on the market are 140. None of the 25 homes are bank owned. In running my proprietary deal program I found 3 homes that were potential deals. The 3 properties have an identified square foot cost of $96 a square foot and the market is supporting $121 a square foot. The average list price in this bracket is $739,556 and no home is listed over 1 million dollars. The typical has 5 bedrooms, 4 full bathrooms and 1 half bathroom the average age for a home is 1998.

Looking back at 2009 17 homes were sold in this price bracket with the average cost of $703,641 which came to $159 a square foot. During 2009 homes took an average of 125 days to sell.
Web Reference: http://www.JimThomas.me
0 votes Thank Flag Link Sat Jan 16, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer