What’s New in the Zionsville Real Estate Market?

1

Only a few areas in Central Indiana have managed to escape the downward spiral of the housing market. Zionsville is not one of them. The Zionsville real estate market has felt the effects of the recession, but it still remains an attractive place to live. You might think that living in a small town means there won’t be much available for prospective homeowners. But that couldn’t be further from the truth. As you will see below, Zionsville has plenty of affordable housing options for people of all income levels and price points. If you are interested in buying a home in this scenic area, read on to get all the details on what’s new with Zionsville real estate.


Zionsville Real Estate Market Summary
The Zionsville real estate market is experiencing a typical Midwestern dip in activity, but it is not in a full-blown market correction. The average sales price in the area has fallen by about 5% over the past year, which is to be expected with fewer buyers in the market. The median sales price of a home in Zionsville is just over $247,000, which is $16,000 less than it was last year. As was the case in most of the country, Zionsville home buyers were able to come up with larger down payments and borrow more to purchase a house. The monthly payments on mortgages in Zionsville are down by about $60 on average. Home equity fell by about $100 on average, but that is expected in a slowing real estate market.


Housing Supply in the Zionsville Real Estate Market
The number of homes for sale in Zionsville has fallen by about 12% over the past year. This is a good sign for buyers because it indicates that more homeowners are confident they can sell their homes in this market. The number of active real estate listings in the Zionsville real estate market has fallen by about 16% over the past year. The average number of days that a home has been on the market in Zionsville is about 6. That is lower than the average for the state of Indiana, which is about 8 days. The number of new listings added to the market has fallen by about 20% over the past year. Zionsville real estate agents are adding fewer new listings to the market than last year.


Zionsville Real Estate Prices
The Zionsville real estate market has seen a modest drop in prices. The average sales price in the area has fallen by about 5% over the past year, which is to be expected with fewer buyers in the market. The median sales price of a home in Zionsville is just over $247,000, which is $16,000 less than it was last year. As was the case in most of the country, Zionsville home buyers were able to come up with larger down payments and borrow more to purchase a house. The monthly payments on mortgages in Zionsville are down by about $60 on average. Home equity fell by about $100 on average, but that is expected in a slowing real estate market.


Conclusion
The Zionsville real estate market has felt the effects of the recession, but it still remains an attractive place to live. You might think that living in a small town means there won’t be much available for prospective homeowners. But that couldn’t be further from the truth. As you will see below, Zionsville has plenty of affordable housing options for people of all income levels and price points. If you are interested in buying a home in this scenic area, read on to get all the details on what’s new with Zionsville real estate.

Leave A Reply

Your email address will not be published.