Zionsville Market Report – September 2008

Here is what happened for all Zionsville Indiana real estate and homes for sale in September 2008 for homes under $700,000:

	2007	2008	% Change
Active	N/A	270
Homes Sold	33	30	-9%
Average Selling Price	$335,236	$300,865	-10%
Days on Market	72	79	10%
Price Per Square Foot	$130	$115	-12%

Not a great month for Zionsville real estate; both the number of homes sold is down and the average sales price is down. It is also taking longer to sell a home in Zionsville this year. The average days on the market is up 10% or 7 days over last year. I still think that 80 days to sell a home in this market is not bad at all. The absorption rate, or number of months supply of homes, ticked up a little bit from last month’s 7.85 to 8.04.

Even though the numbers look pretty sad for Zionsville homes, I have faith in the market. What I know is that Zionsville, like Carmel, offers a great lifestyle to its residents and people will always have a desire to live in Zionsville.