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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 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
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
