There are definitely signs of a real estate recovery happening in the Fishers, Carmel and Geist area. The Fishers Real Estate market was up 40% over a year ago in July and the Carmel Real Estate market was up 14%.
So let’s look at the Geist Real Estate market and specifically the number of homes sold in Geist that are on Reservoir.
In the period January 1 – July 31st in 2010; there were 14 homes that sold (this excludes condos) that were on the Reservoir. In 2011 for the same period there were again 14 homes that sold. How is that a recovery you ask…
The number of homes over $1MM that sold in 2010 was one…a single one. In 2011 for the same period, there were five over $1MM. That alone could be considered a recovery in Geist. But add to that the number of days these homes were on the market and the news gets better. In 2010 the average days on market for homes for sale on Geist Reservoir were 151 days compared with only 93 this year!
I have even more good news! There are currently 8 homes pended on the market that are on the water and their average days on market are 86. There are two of them over $1MM.
If you have a home on Geist Reservoir that you are thinking about selling…I would say now is the time!