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
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