Market News

Housing Data for April 2020

Across 16 central Indiana counties, the Housing data released by the MIBOR BLC® comparing April 2019 to April 2020 shows:

  • An increase in Median Sales Price of 12.3 percent to $210,000
  • An decrease in Closed Sales of 16.8 percent to 2,522
  • New Listings decreased 32.8 percent to 2,782

“The April market saw much less of an impact from Covid-19 than might have been expected,” said Shelley Specchio, MIBOR CEO. “Median sales price of $210,000 was at an all-time high, gaining 12.3% over last year, although the price was almost flat compared to last month, where normally we would see solid gains in prices between March and April. Percentage of asking price to received of 98.3% was near an all-time high and median days on market remains at just 38, the same as last month. Although sales activity did slow, the numbers show that despite our current atmosphere, many are still eager to buy or sell.” 

More specifically, in Marion County…

This is excellent news for those ready to buy or/and sell! When you are ready, Give me a call at (317) 625-0655

Another Reason to Call Indiana Home

Indiana doesn’t fit with what has taken place on either coast.  Prices there are in “bubble” territory and subject to a significant correction.  Here in Indy, not so true.

  • In ALL my years in the industry, we just don’t see the BIG swings in prices in Indiana.  While we don’t gain massive amounts of price appreciation, we also don’t get hurt much when prices nationwide turn south
  • Our fundamentals are still solid.  The median home price in Central Indiana is $209,000.  With a 5% down mortgage, the payment on that priced home runs right around $1,275/month.  Median household income is $60,000/year or $5,000/month.  1,275/5,000 = 25.5%.  That’s less than the 28% qualifying guideline established by Fannie Mae and Freddie Mac, and much less than the 31% max over at FHA.

 JUST ONE MORE REASON TO CALL INDIANA HOME

 For the Full Article

Some Good News

Showings are ½ of last year… but those who want to buy or sell are moving at lightning⚡ speed.  According to the National Association of REALTORS (NAR) survey, [CLICK HERE] the median number of homes being toured has gone down during the pandemic. Previously, buyers looked at nine homes before purchasing. Now that number is down to three—they’re moving faster amid crisis concerns.

This holds true in the Indy area. Our New Listing last week had 15 showings in the 1st three days, two good offers and I am happy to announce it “SOLD”!  We also helped two buyers to secure accepted purchase agreements over the weekend.  We may be working a little differently these days, but we are still making good things happen!