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 June
The housing market is one of the largest and most important sectors of the U.S. economy. To understand the trends within the market, one must analyze activity both month-overmonth and year-over-year. In this new Market Insights Report, MIBOR REALTOR® Association (MIBOR) provides a market analysis of the 16 central Indiana counties within the MIBOR service area by creating a single, timely reliable source of data.
To create a comprehensive view of the market, small changes have been made to the Market Insights Report that will affect the year-over-year analysis over the next 12 months. In the new report, MIBOR has separated townhouse/condo inventory and properties for lease from the aggregated totals. Separating other segments from the report will add clarity to the data as the single-family residential segment is typically the focus. Finally, in March 2019, MIBOR added historical and current data from Jackson County as we welcomed them as members of our BLC® listing service.
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 April:
- Median sales price increase 5.5% to $187,000
- Average days on market dropped to 43
- Current active listings drop to 4,767
Summary of April, 2019 MIBOR Report
Here is a breakdown of the market data from MIBOR's 16-county service area for the month of April, 2019:
- Number of SOLDS: April, 2019 compared to last April: (-1.9%)
- Marion County (-1.9%)
- Hamilton County (-1.3%)
- Number of PENDINGS: April, 2019compared to last April: (+6.9%)
- Number of NEW LISTINGS: April, 2019 compared to last April: (-2.1%)
- Marion County (+4.3%)
- Hamilton County (-8.5%)
- The MEDIAN SALES PRICE for April, 2019 compared to last April: (+5.5%)... to $187,000
- Marion County (+5.9%)... to $161,000
- Hamilton County (-3.3%)... to $289,950
- The PERCENT OF ASKED PRICE RECEIVED for April, 2019 compared to last April: (-0.3%)... to 97.9%
- Marion County (-0.5%)... to 97.9%
- Hamilton County (-0.4%)... to 98.5%
- Number of DAYS ON MARKET for April, 2019 compared to last April: (-4.4%)... to 43 days
- Marion County (+2.6%)... to 39 days
- Hamilton County (+2.1%)... to 48 days
- ACTIVE INVENTORY for April, 2019 compared to last April: (0.9%)... to 4,767 homes
- Marion County (+12.2%)... to 1,627 homes
- Hamilton County (-5.4%)... to 1,055 homes
- The ABSORPTION RATE for April 2019 compared to last April: (0.0%)... to 1.6 months
Thanks again for your support... and your referrals. Have a great month!
Hot House Realty
www.mainmasters.com (a unique website devoted to the search for 1-level homes in the greater Indpls. area)
Indianapolis Star 2012-2018 Five Star Real Estate Agent Award Winner