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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 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!
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