Posts made in January 2015

About that price…

During 2014, central Indiana homes sold (on average) for 93.3% of their original asking price.  The math looks like this…  a house that was brought on the market at $100,000 actually sold for $93,300.  In between, the price was probably lowered a time or two, and when the final buyer got ready to make an offer, the asking price had already been reduced to $95,988.

To be sure, the amount of discount varies from neighborhood to neighborhood and even from house to house (but on average) houses sell for about a 3% discount from their final asking price. 

Do Homes Sell in Winter?

Do homes sell in winter?  Conventional wisdom says not.  But hey— conventional wisdom is often not so wise.  Case in point… December home sale numbers just came across my monitor.  The Metropolitan Board of Realtors (MIBOR) reports closed sales in December numbered 2,380.  And for all of 2014, the number of closed sales at 29,655.  Do the math, and viola! December sales were 1/12 of the year’s total.  (So much for conventional wisdom.)  Homes sell in all months- some months more and some months less; and sometimes for reasons we cannot explain.  Each seller has a story, just as each buyer does.  Don’t let conventional wisdom get in the way of your story!!