Housing Market in Indy - esp. NW Side/Brownsburg

Stretchad

Hey there - former Indiana Nestie here, who still owns a home in Indy...I posted some info about the house on here a few weeks ago. I'm getting ready to list it during the week of 2/16 and I am just really anxious about getting it sold. Does anyone have any impression on how the local Indianapolis housing market is doing in general? Any ideas about Brownsburg? Since I live so far away now, all I really hear about are national trends, which may or may not be applicable to Indianapolis...

I do have a realtor who has said things slowed around the holidays but expects things to pick back up in early spring (and therefore listing at the end of Feb. would be good), but I'd love to hear the perspective of someone who isn't my realtor :-)

PUBoilerBride

It has slowed down around Indy, especially in subdivisions that have a lot of foreclosures/houses for sale.

Generally, things do pick up again in the spring, but I'm a pessimist so I don't think they'll pick up like they "normally" do.

While it is slow in Indy, it is better than a lot of other cities!

jettagurl

I hate to say it, but I highly doubt it will pick up like normal. Hundreds of people are getting laid off here....Navistar is closing, GM is up in the air....the auto racing teams are laying off. ?I think if you are serious about selling you'll need to be very aggressive, so that it's not on the market more than 3-6 mos. ?With all the layoffs, I think the foreclosures are going to skyrocket. I wish you lots of luck!?

PurduePicc

I live near Clermont, and some of the houses in the area we looked at last June/July are still for sale.  Your house is a little bigger than mine (we don't have the breakfast nook), but they have the same facade, appliances, and basic layout.  We ended up paying $135k and the seller covered all closing costs, the survey, inspection, and our first year of homeowner's insurance. 

If you live right where I think you do, your subdivision is larger than ours - the walking trails and whatnot may increase your price.  We're not in Brownsburg schools - we're in Avon.  I'm not sure what effect that will have on your price.  I'm also a little further from the interstate - 4-5 miles from 465.

Edit:

I just looked up your original post about the house, and yours is on a larger lot, and we do not have a fenced yard.   The back of ours faces a woods, though.  The privacy was a big selling point for me.

uofibabe

My parents live in Bburg and are waiting till probably April to put their house up for sale.  It's just a gamble if you ask me.  Their first house sold fast in Bburg a few years ago - first couple that looked at it bought it.  Good luck!! 

BeeLove

I heard that Indy's market is still very low.  January was the worst for housing in years .  We live on the NW side and have been considering listing b/c we are having a baby and our condo is small but we decided to stay for another year, after researching the area and finding out that there are 270+ homes just in our area for sale...

My friend has had her home on the market for 18 months and she lives in a housing addition in Bburg.  She is currently listed for $30K less than she paid. She had to move back in to avoid losing additional money.

I'm not trying to scare you but I agree with PPers who said that you have to be very aggressive in this market.  It hasn't gotten any better from my own personal research.

GOOD LUCK THOUGH.  You just never know what will happen.