Posts tagged with "Local Market"

Central Indiana’s Market Report – Are We Headed to a Balanced Market?

I tell my clients to stop listening to the nightly news. They are talking about home prices in places like Austin, Boise, and Phoenix. Our Local Market prices actually rose last month – Up 3K from November and 10% from a year ago.  The median sales price increased in December to $280,000. Real Estate is Local! Click HERE for Full PDF Market Report

While Sales are Slowing :

It took an average 46 days to sell a house in December, 11 days longer than in November and almost double from a year ago.  Sales were down 29% from a year ago.  New listings are down as  well (23% from last December).

Active Inventory is Growing:

Up 3,816 from 2,088 a year ago.  Still only a 1.6 month supply.  That’s over 2x what there was a year ago, but still a long way from being a balanced market.

During the past two years, we saw homes selling over the asking price but are now selling at 97.7% of the list- believe me when I say – a “normal” number.

Do you need some advice on what to do next..…Call or Text me (317) 625-0655. Let’s put together a winning strategy in this ever-changing market!!!

REMEMBER— REAL ESTATE IS LOCAL

Oil and stock markets are national markets…International even.  Real Estate is a local market.  All Real Estate is local.

When the Nightly News blares, “the Housing Market is Crashing!”.  They are selling fear for ratings and pointing to markets like Austin, Boise, Vegas, and Phoenix.  But rest assured, they are not talking about Central Indiana.  While prices in Boise and Austin are down 15-18% from their peak, cities in the Midwest (Chicago, Indianapolis, Cincinnati) are seeing housing prices flat to down slightly (think 2-3%). 

So (for now, at least), let’s all take a deep breath and enjoy the holiday season upon us.

For a panic-free analysis, call or text me to strategize what’s in your best interest. And, of course, you need a Local Real Estate Expert for that!

Just Released: January Market Report

Download Full Market Report Here

The January numbers for central Indiana are up, and they look to be a little of this and a little of that.

  • Median sales price was up 17% from a year ago, BUT down 4% compared to December
  • Days on market increased to 29 from 24 in December
  • Closed sales and new listings were both up over a year ago, 4 & 2%
  • Inventory remains limited— with only 1738 houses to choose from.  That’s down 11% from a year ago

MarketReport_jan22We’ve got our fingers on the pulse and finding ways to help our clients buy and sell homes successfully.  So if that’s what you’d like to do, well, give us a call!