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Who’s Selling in Indianapolis?

A recent survey commissioned annually by the National Association of Realtors answers that question quite nicely.  Read on…

In 2015, the average Indy home seller was 50 years old and had owned their home for the previous eleven years.  The eleven year hold period is longer than the nine year national average, and roughly twice what was common in decades past.  Undoubtedly, downward price pressure during the Great Recession caused many would be sellers to hold off for better prices.  But, now that prices have been on a strong uptick, sellers are finally motivated to put their houses on the market.

The primary reason cited for selling and moving was the home was too small (18%), followed by a change in family situation (16%) and a declining neighborhood (15%).

92% of home sellers utilized a Realtor’s expertise.  On average, houses were on the market for four weeks before an accepted offer was achieved.  Sale prices averaged 98% of the final list price (which is to say that sellers got awfully close to their asking price).

Now, if you’re tossing around the idea of selling, and would like some insight into what price your home might sell for, what improvements might be cost effective/beneficial to a sale, and how it could be successfully marketed— just give me a call.

“I work harder to make good things happen!”  -Bob

Indiana Real Estate a Bargain

If you think that the local real estate market might be getting a tad expensive, well, you may just wanna’ look around a bit.  Quarter 1 data from the National Association of Realtors (“NAR”) pegged the median average sales price for Indianapolis homes at $139,200— well below the national average of $205,200.

And Indianapolis isn’t the only bargain around.  Check out our neighbors to the north- both Fort Wayne and South Bend posted numbers 25% lower than our’s.  The same can’t be said however for California, where San Jose topped the list at $900,000!  Can you imagine?  I mean, how the heck does one pay 900 large for the average house and still buy groceries?

On the other hand, there’s Youngstown, Ohio down in the cellar with an averge ticket of just $64,300.  Of course, since the auto manufacturers have largely closed up shop, there’s more houses than jobs (and that’s a problem).

Surprisingly (to me at least) there are quite a few places in Florida that are surprisingly affordable.  Think Pensacola, Melbourne, Punta Gorda, Tampa, St. Pete, Gainesville and Port St. Lucie— all of which sport average ticket prices between 145 and 172.  Compared to California’s rarified air, Florida housing is, like Indianapolis’, a real bargain.