Market Trends

How to Make Opportunities

This is just what we do…..

A few months back, I get a call from a 93-year old widow telling me, “It’s time.” She needs to downsize from the 3-story house that she has cherished for over 46+ years. You can imagine the stories she told me as I  walked the property (inside and out), giving my two cents on what improvements could/should be done to yield a quick sale as well as sell for the most money.

After hearing me out, she got started on an EXTENSIVE 30-day project remodel. And I mean extensive. The house had some good bones though it needed to be updated to appeal to today’s buyer. The first thing to go was the red shag carpet 😊. All new hardwoods went in with a brand-new kitchen. New appliances, new granite countertops, new lighting features! I think she had second thoughts on moving when it was all said and done. LOL

I am happy to announce the home SOLD within days, and the remodel yielded an additional $30K than anticipated.

Now, not all homes that go on the market need an extensive remodel though you need the right advice on what to do (or not to do) to sell in today’s market. Give me a call or text at 317-625-0655 and let me help!

Local Market Review: February 2021

Housing data released by the MIBOR BLC® comparing February 2020 to February 2021 shows:

  • An increase in Median Sales Price of 18.9 percent to $223,500
  • An increase in Closed Sales of 6.1 percent to 2,243
  • New Listings decrease 24.0 percent to 2,178

The Indy median sales price is at an all-time February high. Inventory continues to be at an all-time low. The CONTINUED HIGH DEMAND makes it an optimal time to consider making a move. Give me a call at (317) 625-0655 to discuss your options.

2020 Land Sales in Hamilton County, Indiana 

 

 

 

3-4.99 Acres
There were 14 sales, with the average sale price being $30,872/A.  Marketing time was very fast with lots taking a median average of just 24 days to sell!  Discounts from asking price were slim, with the average discount being less than 5% off.

5-9.99 Acres
There were 19 sales, with the average sale price being $23,845/A.  Marketing time for this segment was longer, with the median average coming in at 139.  That probably played a role in discounts being a little more prevalent.  The average discount from asking was 10%.

10-19.99 Acres
There were 17 sales in this group, with the average sale price being $18,443/A.  Marketing time for this segment was longer still, with the median being 229 days.  The average discount was just over 2%.

20+ Acres
8 sales were recorded, with average sale price being $11,625/A.  Median marketing time was just 69 days.  The average discount was nearly 15%.

 

 

No surprise, as the volume of acres increased the price per acre decreased.  There are a lot of factors that go into determining the value of a given piece of ground, with just one of those factors being the total number of acres being purchased.

Well, that’s a wrap for 2020. What will this next year bring? Time will only tell. If you are looking for a piece of land, give me a call at (317) 625-0655 and let’s talk specifics. Let 2021 be the year!