The Metropolitan Board of Realtors just released numbers for the month of March and Quarter 1. As is customary, new listings have been coming onto the market as warmer weather stirs. While there were about 2800 new listings that came on board during both January and February, March saw nearly 4000 new for sale signs put in front yards across Central Indiana. Meanwhile, a good number of listings were taken off the market, thus resulting in no real inventory gain from January to March. It’s possible that some of those pulled from the market are merely taking a breather, and will reappear to plump up the inventory level just in time for the summer selling season. Future home buyers would certainly like for that to happen.
Sales have been increasing month by month this year, and are up 14% from the same time a year ago. Whether this momentum can be maintained or not- well, the proof will be in the pudding.
The median sales price (where half of all sales are either above or below) sits smack on $140,000 (up about 4% from a year ago). That’s generally good news for sellers.