Market Trends

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

Housing Data for March 2020

March 2020 was definitely a unique month for the housing market. While the early part of the month was strong, the “stay at home” executive order was implemented in the latter part of the month.

Like others, I have been working differently to provide new home buying and selling experiences for my clients. I have conducted more virtual showings this month than I had in my entire 30+ year career. Who would have predicted that?? So if you have been eyeing a listing (CLICK HERE for new listings), give me a call or text at (317) 325-0655. I would be happy to walk it with you in real-time.

Now for the data…Across 16 central Indiana counties, the Housing Data released by the MIBOR BLC® comparing March 2019 to March 2020 shows:

• An increase in Median Sales Price of 14.8 percent to $209,000
• An increase in Closed Sales of 5.8 percent to 2,903
• New Listings increased 1.5 percent to 3,636

More specifically…