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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!
Hot House Realty
www.mainmasters.com (a unique website devoted to the search for 1-level homes in the greater Indpls. area)
Indianapolis Star 2012-2019 Five Star Real Estate Agent Award Winner