July 2009 Zionsville Real Estate Report

Real Estate Report by m.s.Woods Real Estate, LLC. –  Anyone who has visited the suburban Indianapolis town of Zionsville knows what a unique place it is with its brick street and quaint shops. But has its originality protected Zionsville homes from the downturn in the Indianapolis real estate market? The website Indiana Is Home recently posted a study conducted by the Indiana Association of REALTORS® comparing homes sold across Indiana counties. The research showed that the decline in home sales and median sales prices continues to be the trend. The good news, however, is that the trend is slowing. Their research showed that Boone County’s home sales remained virtually unchanged from the months they studied, July, 2008 compared to July, 2009. During the month of July, 2008, 78 homes sold contrasted to 77 sold in 2009, which is only a decrease of 1.3% However, the greater impact was felt in the selling price of homes which dipped 28.77% from $230,000 to $164,000.

Specifically in the Zionsville real estate market, a much bigger effect from the downturn was noted with a 17% decrease in home sales from July, 2008 (41 homes sold) to July, 2009 (34 homes sold.) If you’re thinking about moving to or selling your Zionsville homes, it will be helpful to know that there are currently 301 Zionsville homes for sale. The asking prices for these homes range from $5.2 million to $90,000. MIBOR is showing by the latest sold properties that approximately one out of every ten homes currently on the market will sell if interest stays consistent from recent months. With that kind of competition, finding a buyer for your home can be tough. Following are some suggestions to make your home the one they consider most:

Sell your neighborhood. You’ve probably been living in your home long enough to know what is great about your neighborhood so let potential buyers know too. Ask your listing agent to leave a packet of info your visitors can pick up during showings that list the great amenities in your area.

Neutralize your surroundings. Buyers can be picky about small things, like colors used in decorating. Believe it or not, there are some buyers who will likely not buy your house over another one similar to it if they have to do a lot of painting. This goes double for wallpaper so if you want a better chance for your home to sell quickly, think about removing any wallpaper and painting your walls a light shade of beige or white.

Offer to pay closing costs. With the current first-time homebuyer tax credits available, there are many novice buyers looking for homes. The concept of bringing large amounts of money to closing can be intimidating for first-time buyers. Entice these consumers by offering to pay their closing costs.

Hopefully we’ll soon see a sales increase in Zionsville homes as this decline in home sales across Indiana continues to dwindle. In the meantime, take these ideas to your Zionsville REALTOR® and ask them for even more tips to help sell your home quickly.