This activity is leading to more Fishers, Carmel, and Indianapolis home sales, which I expect to continue through April 30th at a minimum. We keep track of home inventory on a monthly basis breaking down homes for each price level for many areas around Indianapolis. What I am seeing is a very healthy inventory level (below 6 months) for sellers and buyers at median and below price points. As the price increases, the inventory levels jump and there is much more pressure on seller’s—buyer’s have the upper hand in negotiation and quality of product for their money. The price point where the homes are typically discounted depends on where the home is located. For example, Lawrence Township home inventory can vary greatly from Fishers, which will affect the price you can get for a property. That said, there are sporadic good deals in all price ranges due to distress sales. Email John@JohnPacilio.com with questions on your specific area.

Type:  Tri-Level

Age:   Built in 1973

Location:   US 31 North near 161^st Street

Neighborhood:   Outside of a typical subdivision

Square footage:  3087 square feet including 672 in the partially finished basement

Rooms:   This four-bedroom home has three bedrooms located on the upper level and a master suite on the main level.  The floor plan has a family room with a floor-to-ceiling stone fireplace, formal living and dining rooms, and a nicely finished media room in place of what was once the garage.  The home has new laminate flooring and new paint inside and out. 

Strengths:  The exterior is stone on all four sides.  The house is on a sizable over ¾ acre lot and has no homeowner association restrictions or mandatory fees.  The backyard is fully fenced.  There is a newly-built detached garage that is nearly twice the depth of typical garage with high ceilings and overhead walk-up storage.  This rental rate on this home is $1500 per month. 

Challenges:  This home has a water restriction that would limit the number of occupants.  The front of the house faces US 31.

 WHAT’S IT WORTH?    $180,000 for sale or $1500 per month for lease