Housing data released by the MIBOR BLC® comparing February 2020 to February 2021 shows:
The Indy median sales price is at an all-time February high. Inventory continues to be at an all-time low. The CONTINUED HIGH DEMAND makes it an optimal time to consider making a move. Give me a call at (317) 625-0655 to discuss your options.
3-4.99 Acres
There were 14 sales, with the average sale price being $30,872/A. Marketing time was very fast with lots taking a median average of just 24 days to sell! Discounts from asking price were slim, with the average discount being less than 5% off.
5-9.99 Acres
There were 19 sales, with the average sale price being $23,845/A. Marketing time for this segment was longer, with the median average coming in at 139. That probably played a role in discounts being a little more prevalent. The average discount from asking was 10%.
10-19.99 Acres
There were 17 sales in this group, with the average sale price being $18,443/A. Marketing time for this segment was longer still, with the median being 229 days. The average discount was just over 2%.
20+ Acres
8 sales were recorded, with average sale price being $11,625/A. Median marketing time was just 69 days. The average discount was nearly 15%.
No surprise, as the volume of acres increased the price per acre decreased. There are a lot of factors that go into determining the value of a given piece of ground, with just one of those factors being the total number of acres being purchased.
Well, that’s a wrap for 2020. What will this next year bring? Time will only tell. If you are looking for a piece of land, give me a call at (317) 625-0655 and let’s talk specifics. Let 2021 be the year!
Starting January 1, 2021, the Federal Housing Administration (FHA) announced new loan limits.
What does this mean for you??
New FHA Loan Limits = New Homebuyer Budgets
Click Below For More Info
This may be the right time for you with the Indy market as well as the new loan limits.
If you have any questions, contact me at (317) 625-0655 or Mike Wickham, our trusted financial partner at Caliber Home Loans. We are always happy to answer any questions that you may have.
