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Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of April

"The market showed that buyers remain eager to purchase homes," said Shelley Specchio, MIBOR CEO. Median sales prices compared to last year have increased by at least 9.4% for 5 of the last 8 months and currently stand at $188,490, which is high comparatively for this time of year. These metrics, along with the rise in new listings are indicative of confidence in the market."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, points out, "The combination of solid sales, significant price appreciation and low inventory levels are what we are seeing in most cities across the country. We saw great job growth and low interest rates in December, January and February and it shows in an extremely tight market."

Year-over-Year data for February:

• Median sales price increased 9.6% to $188,490
• Average days on market decreased 1.9% to 59 days
• Current active listings decreased to 3,883

Summary of February, 2020 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of February, 2020:

• Number of SOLDS:  February, 2020 compared to last February: (+3.3%)
  • Marion County (+2.8%)
  • Hamilton County (+11.2%)
• Number of PENDINGS:  February, 2020 compared to last February: (+23.2%)
  • Marion County (+22.1%)
  • Hamilton County (+24.2%)
• Number of NEW LISTINGS:  February, 2020 compared to last February: (+4.8%)
  • Marion County (+12.8%)
  • Hamilton County (-1.7%)
• The MEDIAN SALES PRICE for February, 2020 compared to last February: (+9.6%)... to $188,490
  • Marion County (+11.0%)... to $161,000
  • Hamilton County (+3.8%)... to $304,000
• The PERCENT OF ASKED PRICE RECEIVED for February, 2020 compared to last February: (+0.3%)... to 97.2%
  • Marion County (+0.1%)... to 96.7%
  • Hamilton County (+0.3%)... to 97.8%
• Number of DAYS ON MARKET for February, 2020 compared to last February: (-1.7%)... to 59 days
  • Marion County (-1.7%)... to 59 days
  • Hamilton County (+4.3%)... to 72 days
• ACTIVE INVENTORY for February, 2020 compared to last February: (-18.4%)... to 3,883 homes
  • Marion County (-12.7%)... to 1,429 homes
  • Hamilton County (-22.6%)... to 765 homes
• The ABSORPTION RATE for February, 2020 compared to last February: (-20.8%)... to 1.9 months
  • Marion County (-14.3%)... to 1.8 months
  • Hamilton County (-32.1%)... to 1.9 months

Read the February, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of March

"As we enter 2020, it's clear low rates are stimulating an increase in demand which is why this normally restful time of the year is busy," said Shelley Specchio, MIBOR CEO. "There are buyers in the market who are ready to make a move and do so quickly."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, says, "As recently as March of 2017, less than three years ago, inventory at 2.4 months would have been a record low for the cycle; now, amazingly, it's at that level in January when the market is normally at a slow point in the year!"

Year-over-Year data for January:

• Median sales price increased 6.8% to $181,500
• Average days on market was increased 3.1 days to 60.
• Current active listings decreased to 4,392

Summary of January, 2020 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of January, 2020:

• Number of SOLDS:  January, 2020 compared to last January: (+9.3%)
  • Marion County (+8.6%)
  • Hamilton County (+7.7%)
• Number of PENDINGS:  January, 2020 compared to last January: (+17.3%)
  • Marion County (+19.1%)
  • Hamilton County (+16.1%)
• Number of NEW LISTINGS:  January, 2020 compared to last January: (+3.1%)
  • Marion County (+3.7%)
  • Hamilton County (-11.1%)
• The MEDIAN SALES PRICE for January, 2020 compared to last January: (+6.8%)... to $181,500
  • Marion County (+18.8%)... to $158,000
  • Hamilton County (+3.8%)... to $316,000
• The PERCENT OF ASKED PRICE RECEIVED for January, 2020 compared to last January: (+0.4%)... to 96.8%
  • Marion County (+0.9%)... to 96.6%
  • Hamilton County (+0.0%)... to 97.7%
• Number of DAYS ON MARKET for January, 2020 compared to last January: (+3.1%)... to 66 days
  • Marion County (+7.3%)... to 59 days
  • Hamilton County (+5.6%)... to 75 days
• ACTIVE INVENTORY for January, 2020 compared to last January: (-12.6%)... to 4,392 homes
  • Marion County (-12.6%)... to 1,594 homes
  • Hamilton County (-15.2%)... to 846 homes
• The ABSORPTION RATE for January, 2020 compared to last January: (-20.0%)... to 2.4 months
  • Marion County (-16.0%)... to 2.1 months
  • Hamilton County (-21.2%)... to 2.6 months

Read the January, 2020 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of February

"Prices were strong throughout 2019, despite record low inventory," said Shelley Specchio, MIBOR CEO. "Based on the interaction of demand and supply (sales, pending sales, and median price), every metric shows a strong market as we enter 2020."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, says, "The economy is okay. It will decline slightly and benignly compared to 2019, but the likelihood of a recession has declined to 25% (from 35%) over the next year. Trade in general looks to be a tailwind with the recent Phase 1 deal with China and the USMCA deal. Johnson's large victory in the U.K. will help to move Brexit along. Importantly, inflation remains weak, which gives the Fed the luxury of cutting rates if they need to."

Year-over-Year data for December:

• Median sales price increased 9.9% to $195,000
• Average days on market was unchanged at 60 days.
• Current active listings decreased to 5,064

Summary of December, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of December, 2019:

• Number of SOLDS:  December, 2019 compared to last December: (+9.4%)
  • Marion County (-6.1%)
  • Hamilton County (+14.7%)
• Number of PENDINGS:  December, 2019 compared to last December: (+8.7%)
  • Marion County (+13.4%)
  • Hamilton County (+9.0%)
• Number of NEW LISTINGS:  December, 2019 compared to last December: (-7.8%)
  • Marion County (-12.3%)
  • Hamilton County (+2.7%)
• The MEDIAN SALES PRICE for December, 2019 compared to last December: (+9.9%)... to $195,000
  • Marion County (+9.8%)... to $165,000
  • Hamilton County (+0.2%)... to $309,000
• The PERCENT OF ASKED PRICE RECEIVED for December, 2019 compared to last December: (+0.3%)... to 97.1%
  • Marion County (+0.3%)... to 96.8%
  • Hamilton County (+0.3%)... to 98.2%
• Number of DAYS ON MARKET for December, 2019 compared to last December: (-0.0%)... to 60 days
  • Marion County (-3.8%)... to 51 days
  • Hamilton County (+4.1%)... to 77 days
• ACTIVE INVENTORY for December, 2019 compared to last December: (-11.1%)... to 5,064 homes
  • Marion County (-9.9%)... to 1,906 homes
  • Hamilton County (-8.6%)... to 972 homes
• The ABSORPTION RATE for December, 2019 compared to last December: (-17.4%)... to 1.9 months
  • Marion County (-14.3%)... to 1.8 months
  • Hamilton County (-20.0%)... to 2.0 months

Read the December, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of January

"As we round out 2019, we see many metrics similar to what we have seen in previous months. High demand is driving increased prices, balanced against the challenge of low inventory," said Shelley Specchio, MIBOR CEO. "However, we still consider this a strong market given the fact that sales are consistent and buyers are present and optimistic."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, points out, "The choices for buyers are increasingly limited and pricey, as evidenced by shrinking inventories and rising prices. This lack of inventory is a national trend, but what's different in Indianapolis, inventories are just so low that sales may have plateaued, whereas they are rising nationally."

Year-over-Year data for August:

• Median sales price increased 4.6% to $187,250
• Average days on market decreased 1.9% to 51 days
• Current active listings decreased to 5,837

Summary of November, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of November, 2019:

• Number of SOLDS:  November, 2019 compared to last November: (-4.5%)
  • Marion County (-6.0%)
  • Hamilton County (-2.5%)
• Number of PENDINGS:  November, 2019 compared to last November: (+9.5%)
  • Marion County (+11.2%)
  • Hamilton County (+11.9%)
• Number of NEW LISTINGS:  November, 2019 compared to last November: (-3.8%)
  • Marion County (-4.2%)
  • Hamilton County (-9.6%)
• The MEDIAN SALES PRICE for November, 2019 compared to last November: (+4.6%)... to $187,250
  • Marion County (+10.3%)... to $160,000
  • Hamilton County (-1.4%)... to $300,000
• The PERCENT OF ASKED PRICE RECEIVED for November, 2019 compared to last November: (+0.3%)... to 97.3%
  • Marion County (-0.1%)... to 96.9%
  • Hamilton County (+0.2%)... to 97.9%
• Number of DAYS ON MARKET for November, 2019 compared to last November: (-1.9%)... to 51 days
  • Marion County (+7.0%)... to 46 days
  • Hamilton County (-16.9%)... to 59 days
• ACTIVE INVENTORY for November, 2019 compared to last November: (-8.6%)... to 5,837 homes
  • Marion County (-6.7%)... to 2,202 homes
  • Hamilton County (-5.6%)... to 1,157 homes
• The ABSORPTION RATE for November, 2019 compared to last November: (-4.2%)... to 2.3 months
  • Marion County (-0.0%)... to 2.3 months
  • Hamilton County (-3.8%)... to 2.5 months

Read the November, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of December

"in October we saw current prices exceed the all-time highs of summer 2018. As well, this month posted the fifth highest monthly price ever, and we have not seen a decline in year-over-year prices in more than seven years," says Shelley Specchio. "However, sales activity has been showing slight increases, which is a definite improvement over the recent past."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, said this about the Central Indiana increase in sales activity, "Lower interest rates, by increasing affordability, seem to be encouraging a bit more sales activity."

Year-over-Year data for October:

• Median sales price increased 9.2% to $191,150
• Average days on market decreased 8.5% to 43 days
• Current active listings decreased to 6,499

Summary of October, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of October, 2019:

• Number of SOLDS:  October, 2019 compared to last October: (+1.5%)
  • Marion County (-4.4%)
  • Hamilton County (+8.1%)
• Number of PENDINGS:  October, 2019 compared to last October: (+12.0%)
  • Marion County (+14.2)
  • Hamilton County (+5.0%)
• Number of NEW LISTINGS:  October, 2019 compared to last October: (+2.1%)
  • Marion County (+4.6%)
  • Hamilton County (+3.5%)
• The MEDIAN SALES PRICE for October, 2019 compared to last October: (+9.2%)... to $191,150
  • Marion County (+8.0%)... to $162,000
  • Hamilton County (+7.6%)... to $306,750
• The PERCENT OF ASKED PRICE RECEIVED for October, 2019 compared to last October: (+0.3%)... to 97.5%
  • Marion County (+0.1%)... to 97.0%
  • Hamilton County (+0.2%)... to 98.2%
• Number of DAYS ON MARKET for October, 2019 compared to last October: (-8.5%)... to 43 days
  • Marion County (-0.0%)... to 37 days
  • Hamilton County (-15.6%)... to 54 days
• ACTIVE INVENTORY for October, 2019 compared to last October: (-5.8%)... to 6,499 homes
  • Marion County (-2.1%)... to 2,443 homes
  • Hamilton County (-3.4%)... to 1,298 homes
• The ABSORPTION RATE for October, 2019 compared to last October: (-8.7%)... to 2.1 months
  • Marion County (+5.9%)... to 1.8 months
  • Hamilton County (+5.0%)... to 2.1 months

Read the October, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of November

"The story this month continues to be the lack of housing inventory in the central Indiana market," says Shelley Specchio, MIBOR CEO. "However, pending sales are up when they typically decrease this time of year, giving us more proof that there is still an unrelenting demand for homes."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, said this about the central Indiana market, "You simply aren't building enough homes in your area to meet the need. You went from an inventory of nearly 10,000 listings in September of 2016 to 6,300 active listings last month."

Year-over-Year data for September:

• Median sales price increased 5.5% to $189,900
• Average days on market is unchanged at 40 days
• Current active listings decreased to 6,341

Summary of September, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of September, 2019:

• Number of SOLDS:  September, 2019 compared to last September: (+1.8%)
  • Marion County (+7.7%)
  • Hamilton County (+2.1%)
• Number of PENDINGS:  September, 2019 compared to last September: (+18.7%)
  • Marion County (+19.7%)
  • Hamilton County (+19.1%)
• Number of NEW LISTINGS:  September, 2019 compared to last September: (+0.5%)
  • Marion County (-0.1%)
  • Hamilton County (+10.2%)
• The MEDIAN SALES PRICE for September, 2019 compared to last September: (+5.5%)... to $189,900
  • Marion County (+7.1%)... to $160,700
  • Hamilton County (+5.6%)... to $285,000
• The PERCENT OF ASKED PRICE RECEIVED for September, 2019 compared to last September: (-0.1%)... to 97.5%
  • Marion County (-0.0%)... to 97.3%
  • Hamilton County (-0.4%)... to 98.1%
• Number of DAYS ON MARKET for September, 2019 compared to last September: (-0.0%)... to 40 days
  • Marion County (+8.3%)... to 39 days
  • Hamilton County (-13.5%)... to 45 days
• ACTIVE INVENTORY for September, 2019 compared to last September: (-7.4%)... to 6,341 homes
  • Marion County (-5.4%)... to 2,306 homes
  • Hamilton County (-5.0%)... to 1,293 homes
• The ABSORPTION RATE for September, 2019 compared to last September: (-8.7%)... to 2.1 months
  • Marion County (-9.1%)... to 2.0 months
  • Hamilton County (-7.7%)... to 2.4 months

Read the September, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of October

"Typical to what we have seen for the last several months, all supply and demand interaction metrics remain very high while inventory continues to decline," said Shelly Specchio, MIBOR CEO. "However, sales activity in the region continues to climb giving us hope for the winter months ahead."

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, commented, "Nationally, despite record prices, buyers remain eager to purchase, partly because both unemployment and mortgage rates are low. Demand, as measured by sales and pending sales, remains strong."

Year-over-Year data for August:

• Median sales price increased 9.9% to $199,000
• Average days on market is unchanged at 38 days
• Current active listings decreased to 6,273

Summary of August, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of August, 2019:

• Number of SOLDS:  August, 2019 compared to last August: (-1.2%)
  • Marion County (-7.5%)
  • Hamilton County (+3.3%)
• Number of PENDINGS:  August, 2019 compared to last August: (+8.8%)
  • Marion County (+12.0%)
  • Hamilton County (+2.0%)
• Number of NEW LISTINGS:  August, 2019 compared to last August: (-6.5%)
  • Marion County (-7.7%)
  • Hamilton County (-8.8%)
• The MEDIAN SALES PRICE for August, 2019 compared to last August: (+9.9%)... to $199,000
  • Marion County (+6.9%)... to $165,000
  • Hamilton County (+9.7%)... to $314,373
• The PERCENT OF ASKED PRICE RECEIVED for August, 2019 compared to last August: (+0.2%)... to 97.8%
  • Marion County (-0.2%)... to 97.5%
  • Hamilton County (+0.3%)... to 98.5%
• Number of DAYS ON MARKET for August, 2019 compared to last August: (-0.0%)... to 38 days
  • Marion County (-3.1%)... to 31 days
  • Hamilton County (+2.3%)... to 45 days
• ACTIVE INVENTORY for August, 2019 compared to last August: (-4.3%)... to 6,273 homes
  • Marion County (-2.5%)... to 2,254 homes
  • Hamilton County (-4.9%)... to 1,292 homes
• The ABSORPTION RATE for August 2019 compared to last August: (-0.0%)... to 1.8 months
  • Marion County (+5.9%)... to 1.8 months
  • Hamilton County (+5.0%)... to 1.9 months

Read the August, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of August

For the third month in a row, median sales price has hit a price record at $200,295 - a 10.1% increase from July 2018. Outside of price, all other changes are relatively small, however, after three months of decline... closed sales did increase 3.6% over last year to 3,582. This is a welcomed sign for both buyers and sellers alike.

Year-over-Year data for July:

• Median sales price increased 10.1% to $200,295
• Average days on market is unchanged at 36 days
• Current active listings decreased to 6,015

Summary of July, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of July, 2019:

• Number of SOLDS:  July, 2019 compared to last July: (+3.6%)
  • Marion County (+1.5%)
  • Hamilton County (-1.5%)
• Number of PENDINGS:  July, 2019 compared to last July: (+11.9%)
  • Marion County (+9.7%)
  • Hamilton County (+10.2%)
• Number of NEW LISTINGS:  June, 2019 compared to last June: (+0.0%)
  • Marion County (-4.0%)
  • Hamilton County (+12.0%)
• The MEDIAN SALES PRICE for July, 2019 compared to last July: (+10.1%)... to $200,295
  • Marion County (+11.3%)... to $167,000
  • Hamilton County (+8.6%)... to $310,000
• The PERCENT OF ASKED PRICE RECEIVED for July, 2019 compared to last July: (-0.1%)... to 98.1%
  • Marion County (-0.5%)... to 97.8%
  • Hamilton County (-0.2%)... to 98.4%
• Number of DAYS ON MARKET for July, 2019 compared to last July: (+0.0%)... to 36 days
  • Marion County (+0.0%)... to 28 days
  • Hamilton County (+12.5%)... to 45 days
• ACTIVE INVENTORY for July, 2019 compared to last July: (-2.1%)... to 6,015 homes
  • Marion County (+0.1%)... to 2,081 homes
  • Hamilton County (+1.4%)... to 1,316 homes
• The ABSORPTION RATE for July 2019 compared to last July: (-5.6%)... to 1.7 months
  • Marion County (+0.0%)... to 1.6 months
  • Hamilton County (+5.6%)... to 1.9 months

Read the July, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of August

Median sales prices grew more than 5% year-over-year and have now reached an all time high at nearly $200,000. This growth rate is opposite to what we are seeing nationally and undoubtedly being aided by the recent decline in mortgage rates. These factors, along with low inventory, make for a highly competitive market even compared to what we are seeing nationally. As our market heats up, potential buyers and sellers should look to their REALTOR for guidance.

Year-over-Year data for June:

• Median sales price increased 5.2% to $199,000
• Average days on market decreased to 34
• Current active listings increase to 5,731

Summary of June, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of June, 2019:

• Number of SOLDS:  June, 2019 compared to last June: (-6.9%)
  • Marion County (-5.1%)
  • Hamilton County (-17.5%)
• Number of PENDINGS:  June, 2019 compared to last June: (+12.5%)
  • Marion County (+12.6%)
  • Hamilton County (+10.2%)
• Number of NEW LISTINGS:  June, 2019 compared to last June: (-8.5%)
  • Marion County (-9.7%)
  • Hamilton County (-16.9%)
• The MEDIAN SALES PRICE for June, 2019 compared to last June: (+5.2%)... to $199,000
  • Marion County (+7.1%)... to $166,000
  • Hamilton County (+5.2%)... to $322,000
• The PERCENT OF ASKED PRICE RECEIVED for June, 2019 compared to last June: (-0.1%)... to 98.3%
  • Marion County (-0.1%)... to 98.5%
  • Hamilton County (-0.3%)... to 98.5%
• Number of DAYS ON MARKET for June, 2019 compared to last June: (+9.7%)... to 34 days
  • Marion County (+30.4%)... to 30 days
  • Hamilton County (+2.6%)... to 40 days
• ACTIVE INVENTORY for June, 2019 compared to last June: (-2.9%)... to 5,731 homes
  • Marion County (+0.6%)... to 1,955 homes
  • Hamilton County (-4.9%)... to 1,266 homes
• The ABSORPTION RATE for June 2019 compared to last June: (+6.7%)... to 1.6 months
  • Marion County (+7.1%)... to 1.5 months
  • Hamilton County (+12.5%)... to 1.8 months

Read the June, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner

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Indy Housing Market Update

Welcome again to another issue of the Indy Housing Market Update... where I briefly summarize the current trends of our local housing market, and provide a link to the latest home sale statistics from our local board, the Mid-Indiana Board of Realtors (MIBOR).

Hot Topics for the Month of July

Statistics show a strong indication that prices are beginning to stabilize, which is a welcomed notion for buyers. Last year at this time, median sales prices were increasing in the double digits, now growth is half to a third of that. Additionally, closed price to original listing price had been growing for over 6 years (May 2012 - October 2018), but since November November 2018 that has steadily declined. This year, the spring season is shaping up to be nearly as good as last year. So, although the numbers of available properties continue to decline, with the interest rates also staying low and the job market remaining strong, we expect to see the market steady. 

Year-over-Year data for May:

• Median sales price increase 3.2% to $196,000
• Average days on market was unchanged at 36
• Current active listings increase to 5,431

Summary of May, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of May, 2019:

• Number of SOLDS:  May, 2019 compared to last May: (-2.6%)
  • Marion County (+3.7%)
  • Hamilton County (-7.3%)
• Number of PENDINGS:  May, 2019 compared to last May: (+8.4%)
  • Marion County (+15.2%)
  • Hamilton County (-7.9%)
• Number of NEW LISTINGS:  May, 2019 compared to last May: (-0.9%)
  • Marion County (-1.7%)
  • Hamilton County (-3.5%)
• The MEDIAN SALES PRICE for May, 2019 compared to last May: (+3.2%)... to $196,000
  • Marion County (+4.4%)... to $167,000
  • Hamilton County (-1.1%)... to $295,000
• The PERCENT OF ASKED PRICE RECEIVED for May, 2019 compared to last May: (-0.3%)... to 98.2%
  • Marion County (-0.4%)... to 98.4%
  • Hamilton County (-0.3%)... to 98.5%
• Number of DAYS ON MARKET for May, 2019 compared to last May: (0.0%)... to 36 days
  • Marion County (+28.0%)... to 32 days
  • Hamilton County (-12.5%)... to 42 days
• ACTIVE INVENTORY for May, 2019 compared to last May: (+5.2%)... to 5,431 homes
  • Marion County (+12.9%)... to 1,787 homes
  • Hamilton County (+6.9%)... to 1,262 homes
• The ABSORPTION RATE for May 2019 compared to last May: (+6.7%)... to 1.6 months
  • Marion County (+7.7%)... to 1.4 months
  • Hamilton County (+18.8%)... to 1.9 months

Read the May, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

www.findmyindianapolishome.com

www.mainmasters.com  (a unique website devoted to the search for 1-level homes in the greater Indpls. area)

317-201-7676 (mobile)

Indianapolis Star 2012-2018 Five Star Real Estate Agent Award Winner