Brownsburg, Indiana Real Estate Stats - First Half of 2019
How is the market in our corner of Metropolitan Indianapolis? Data encompasses the entire Brownsburg Community School Corporation district and for purposes of this report, includes existing homes only (no new construction).
Here is the year-over-year results, comparing the first half of 2019 to the first half of 2018:
|1ST HALF 2018||1ST HALF 2019|
|TOTAL # HOMES SOLD||368||356|
|# OF DISTRESSED SALES||14||7|
|AVERAGE SALE PRICE||$216,011||$244,380|
|MEDIAN SALE PRICE||$197,250||$225,000|
|AVERAGE LIST PRICE TO SALE PRICE RATIO||100.0%||99.2%|
|AVERAGE DAYS ON MARKET||41||29|
And month-over-month, comparing June 2019 to May 2019:
|MAY 2019||JUNE 2019|
|TOTAL # HOMES SOLD||73||105|
|# OF DISTRESSED SALES||0||3|
|AVERAGE SALE PRICE||$234,424||$252,944|
|MEDIAN SALE PRICE||$226,000||$235,000|
|AVERAGE LIST PRICE TO SALE PRICE RATIO||99.2%||99.4%|
|AVERAGE DAYS ON MARKET||20||21|
- Distressed properties include bank-owned homes, short sales, bankruptcy, HUD home, etc.
- I have included median sale prices in these charts because instead of just averaging all prices- which can skew if there are some sales that are way above or below typical for the area, median shows that price where there are an equal number of sales above and below that price. Together, median and average can help give a clearer picture.
- List price to sale price ratio is the average "give" sellers are conceding during negotiations from the original list price.
- Days on market indicates how long properties are listed before sellers accept an offer.
Here is the current status of existing residential real estate in Brownsburg as of July 13, 2019:
- 78 homes are active, for sale
- 122 homes are under contract (accepted offer, yet to close)
- 102 homes have sold in the past 30 days,
From these figures, we can determine the area's absorption rate, which is simply the rate at which homes are selling in a specific area. I won't bore you with the details, but the calculation looks like this:
When you plug in our numbers, it shows that there is an 8½-week supply of homes on the market right now. This means that if market conditions do not change and if no new listings come onto the market, it will take only 2 months for all of the current inventory to sell at the current pace of the market. A balanced market's absorption rate is typically right around 6 months. Brownsburg remains in the deepest sellers market we have seen in decades.
If you've been thinking about selling your house and would like to see where it potentially fits among others for sale, please call or text me at the number below. We are still in the middle of the best time for you to sell.
If you are considering buying a home, prices are still going up. The good news is, mortgage interest rates are going down again, giving your more purchasing power.
In either case, a great app to see what is for sale (and to get a general idea of your home's value) is Homesnap. I have it if you want it. Just click here and look for the download image.
Also, the Market Snapshot gives you insight on what is happening in your area or in an area you may be interested in. Sign up on this page.