Shelbyville Home Sales Status July, 2009

Anyone who has traveled to Cincinnati from Indianapolis has probably made a stop in Shelbyville at one time or another. Shelbyville offers a historic view of Indiana for all who visit there, represented in the established subdvisions and neighborhoods that make up Shelbyville homes. How is the Shelbville real estate market doing in comparison to other homes that make up the Indianapolis real estate market, and across the rest of Indiana?

In the recent past, the Indiana Association of REALTORS® wondered the same and studied 98% of the counties in Indiana to draw conclusions about how the state is doing. Published at Indiana Is Home, the Association discovered that overall, the rate of home sales continues to dip, but at a slower rate than usual. Across the United States, this impact of our economy is being felt as it is in most Indianapolis homes for sale. Unfortunately, Shelby County has shown a large hit for the time period studied, July, 2008 compared to July, 2009. Fourteen fewer homes were sold the following year when comparing the two July months (25 in comparison to 39) which is a decrease of almost 36%. The sales price for these homes dipped only slightly in comparison, from $98,500 in 2008 to $91,000 in 2009, a rate of just over 7%.

Shelbyville real estate graphic

In comparison, Shelbyville homes themselves sold at about the same rate as the entire county at 32.2% less in 2009 than 2008. With 275 Shelbyville homes for sale currently at a wide range of $10,000 to almost $700,000, there is a lot of stock on hand for those looking to buy Shelbyville homes. With about 8% of homes selling right now, or one out of every fifteen homes, you will have to stand out against the competition in order to make the sale. One of the most important things to do to get started is consider working with a Shelbyville REALTOR®. If you’re going to be interviewing for someone to help you sell your home, think about asking the following questions:

How will you market my home? REALTORS® have different marketing strategies. Some companies that REALTORS® work for have more elaborate marketing systems as others, such as those companies with weekly television shows or elaborate websites. See how far-reaching you consider their media influence to be.

Will you hold open houses? You won’t always get a lot of foot traffic during an open house or necessarily potential buyers but it’s good to at least try having a few now and then. It can’t hurt because at the very least your lesser-known neighbors may walk through and then suggest your home to a friend. So see if your REALTOR® is willing to hold your home open for a few hours on a Sunday.

REALTOR logoWhat kind of print materials do you offer? Buyers will tend to better remember your home if they can take a packet of information with them as they leave. Ask your REALTOR® is she provides this service for you. This packet can include such items as information about local schools and attractions, what your utilities are, perks about your home and a copy of your sellers disclosure (which lists what you verify is in working order.)

It’s no secret that people across our country are struggling right now to make ends meet. While it may not be the best time to try to move because of selling your home, consider that you will most likely also get a good deal on the next home you have to buy right now. The real estate market is not at its peak but with the right guidance, you can give your home the best shot to move quickly.