Buying

Central Indiana Home Sales Beat National

You’ve got to be careful if you get your news from a national media outlet.  While January national home sales were the weakest in years, Central Indiana continued on a very strong path.  Pundits blamed rising mortgage rates and low inventory as the reasons for the weaker national sales.  It’s true that rates have been creeping up slightly— BUT they are still amazing by any historical perspective.  Think mid 4’s right at the moment.  I mean, since when was 4% a bad mortgage rate?  Come on now!

 

The experts say “Real estate is local”- and they are correct.  Here in Central Indiana, Closed Sales were up 5% over January of a year ago.  And up 4% for the past 12 months.  Obviously more people are buying homes in our neck of the woods.

Want help getting the lowest rate and buying successfully in this tight market?  Easy— call me!  “I work harder to make good things happen!”  -Bob Morris

Housing posts BIG October!!!

MIBOR just released numbers for October, and sales were BIG— up 11% over last October and running +5% for the past 12 months.  Meanwhile, new listings continue to be flat.  So, add in ultra low mortgage rates, and those factors have combined to push the median average price up 7% to $164,000.  There are 9,066 properties listed for sale in central Indiana, which is down 15% from a year ago.  On one hand, 9,066 houses is a lot of houses for sale.  On the other hand, supply per buyer is down 19% from a year ago.

If you’d to take advantage of all this BIG market has to offer— give one of us a call, text or email.  Remember, we work harder to make good things happen!

Market Snapshot

Indy sales have been running the most ever… 36000+ sold in past 12 months! They’ve been strongest over 175k.
New listings are flat year-over-year. A decade ago, there was half again as many homes on the market!
Inventory is down 20% from a year ago, and is tightening most under $175,000.
All that, along with uber low mortgage rates, has combined to push the median average house price to the highest point ever— 160+ during the past year. Up 7% from a year ago, and 25% from a decade ago.

Homes are selling on average for 4% less than their original list price.
Whether you’re buying or selling, be sure to call us, “We work harder to make good things happen!”