Market News

Local Home Sales Continue to Increase

November housing  market numbers are just in for Central Indiana, courtesy of MIBOR.

  • Unlike the nation as a whole, new listings are slowly increasing, +4% from last 2017.
  • Sales are up as well, 2% Y-o-Y, but in a slowing pattern.
  • Prices continue to rise, with median sales price now $179,000.  Up 9% from a year ago.
  • Sellers are getting 95% of their original asking price. (Which is to say it’s still a seller’s market but not like last spring.)
  • Available inventory remains very tight, with 7% fewer houses available for each buyer to choose from.

Want to learn how to take the most of this market for your own self? Give me a call at 317-625-0655.

Do Homes Sell in Winter? ❄️❄️

In today’s market, the answer is an unqualified “YES!”. 

However, summer months are no longer the peak.  It’s tax season! Yes, April 15th is about when buyers overwhelm the available inventory.  The best reason we could come up with for the earlier timing of throngs of buyers hitting the market is the change in the school calendar.  With a shorter number of days for families to take vacations and the earlier school start dates, many people are wanting to get the house sold / purchase/move done before summertime.  That means the housing cycle has moved forward with the cycle peaking in April, it means that the prime time to get your house on the market is the winter.  And this means January.  Looking back, we even worked last New Year’s Day and it set the tone for all of January and February.

So, if you’re thinking about making a move in 2019, it’s a great time to get ready to put your house on the market come first of the year.  Not convinced???  Maybe the other reasons below will help…

  • We are in a Seller’s market
  • Mortgage rates, despite recent upticks, are still low by historical standards
  • And with the Fed talking about more rate hikes, many buyers are wanting to purchase before rates go higher
  • Inventory is low with less than a 3 months’ supply.  5 or 6 would be a healthy number.  So, basic supply and demand makes this a good time to sell
  • Serious buyers are always on the prowl
  • Buyers hear that home prices have been going up.  That fuels consumer confidence and also makes them want to get on the bandwagon before prices go any higher
  • Deals turn quicker in the winter months
  • And, yes, the peak buying season starts on New Year’s Day

The 3 KEYS TO SUCCESSFUL SELLING are price, condition, and marketing.  We’ll save our thoughts on that for another day.  But if you want to get a jump on the competition, give Dave or Bob a call today— and let’s get you ready for a successful house sale this Winter or early Spring.

P.S. Overwhelmed with getting your house on the market?? Check out our FB post on the Top Home Décor Trends for this Fall [Link]

When Do the Most Homes Sell in Central Indiana? 

Everyone seems to know, but as the saying goes, “Numbers don’t lie.”  During the past year, June was the biggest month, with 4064 closings.  That was followed by August with 3802; with May and July not far behind.  April, September and October also surpassed the 3000 mark.  The slowest months for closings were January and February at 1901 and 2146.

Now, some of that may have you scratching your head, because it sure seems like it was crazy busy in February and March this year, with bidding wars being the subject around the water cooler and at the local pub.  So what gives?  Well, closings typically follow offers by 30-60 days, as people work through inspections and mortgage approval.  Which is why it was, in fact, crazy busy during the February – May period.

Home Sales by Month
3144      October
2817      November
2773      December
1901      January
2146      February
2966      March
3212      April
3739      May
4064      June
3702      July
3802      August
3144      September

Until Next Time, Make It A Great One!