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 March
"As we enter 2020, it's clear low rates are stimulating an increase in demand which is why this normally restful time of the year is busy," said Shelley Specchio, MIBOR CEO. "There are buyers in the market who are ready to make a move and do so quickly."
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, says, "As recently as March of 2017, less than three years ago, inventory at 2.4 months would have been a record low for the cycle; now, amazingly, it's at that level in January when the market is normally at a slow point in the year!"
Year-over-Year data for January:
- Median sales price increased 6.8% to $181,500
- Average days on market was increased 3.1 days to 60.
- Current active listings decreased to 4,392
Summary of January, 2020 MIBOR Report
Here is a breakdown of the market data from MIBOR's 16-county service area for the month of January, 2020:
- Number of SOLDS: January, 2020 compared to last January: (+9.3%)
- Marion County (+8.6%)
- Hamilton County (+7.7%)
- Number of PENDINGS: January, 2020 compared to last January: (+17.3%)
- Marion County (+19.1%)
- Hamilton County (+16.1%)
- Number of NEW LISTINGS: January, 2020 compared to last January: (+3.1%)
- Marion County (+3.7%)
- Hamilton County (-11.1%)
- The MEDIAN SALES PRICE for January, 2020 compared to last January: (+6.8%)... to $181,500
- Marion County (+18.8%)... to $158,000
- Hamilton County (+3.8%)... to $316,000
- The PERCENT OF ASKED PRICE RECEIVED for January, 2020 compared to last January: (+0.4%)... to 96.8%
- Marion County (+0.9%)... to 96.6%
- Hamilton County (+0.0%)... to 97.7%
- Number of DAYS ON MARKET for January, 2020 compared to last January: (+3.1%)... to 66 days
- Marion County (+7.3%)... to 59 days
- Hamilton County (+5.6%)... to 75 days
- ACTIVE INVENTORY for January, 2020 compared to last January: (-12.6%)... to 4,392 homes
- Marion County (-12.6%)... to 1,594 homes
- Hamilton County (-15.2%)... to 846 homes
- The ABSORPTION RATE for January, 2020 compared to last January: (-20.0%)... to 2.4 months
- Marion County (-16.0%)... to 2.1 months
- Hamilton County (-21.2%)... to 2.6 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 2012-2019 Five Star Real Estate Agent Award Winner