Market Trends

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!”

Indy Market Trends

sold imageIndy Market Trends

  • Spring buying season slowing into summer.  = fewer bidding wars.
  • Sales up 7% for the year; listings flat. = tighter inventory.
  • Prices up 6% on the year.
  • Mortgage rates near all time lows.

Whether you’re buying or selling, be sure to call me, “I work harder to make good things happen!”  -Bob

Buyers- Be Like a Boy Scout

MIBOR just released sales numbers for the month of January, and by all measures the trends of recent months are continuing in full force.  Bottom line, sales are up and inventory is not keeping pace with demand.  The takeaway is for buyers to be successful in their quest for a new home, they’d best be like a Boy Scout, (ie. “Be prepared”).

Closed sales are up 4% over last January’s numbers, while new inventory only increased 1%.  That combination is playing the leading role in giving home prices a boost.  They’re up 5% over a year ago, topping $143,700.

At month’s end there were 8,668 homes listed for sale in central Indiana; which is 15% less than a year ago this time.  Btw, the current inventory is lower than anything I’ve seen.  Ever.  Anywhere. K

There’s not much you or I can do about any of that, except to Be Prepared ourselves.  To learn how to best position yourself to take advantage of opportunities in this market, don’t be shy— call me!

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