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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 October
"Typical to what we have seen for the last several months, all supply and demand interaction metrics remain very high while inventory continues to decline," said Shelly Specchio, MIBOR CEO. "However, sales activity in the region continues to climb giving us hope for the winter months ahead."
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker, commented, "Nationally, despite record prices, buyers remain eager to purchase, partly because both unemployment and mortgage rates are low. Demand, as measured by sales and pending sales, remains strong."
Year-over-Year data for August:
- Median sales price increased 9.9% to $199,000
- Average days on market is unchanged at 38 days
- Current active listings decreased to 6,273
Summary of August, 2019 MIBOR Report
Here is a breakdown of the market data from MIBOR's 16-county service area for the month of August, 2019:
- Number of SOLDS: August, 2019 compared to last August: (-1.2%)
- Marion County (-7.5%)
- Hamilton County (+3.3%)
- Number of PENDINGS: August, 2019 compared to last August: (+8.8%)
- Marion County (+12.0%)
- Hamilton County (+2.0%)
- Number of NEW LISTINGS: August, 2019 compared to last August: (-6.5%)
- Marion County (-7.7%)
- Hamilton County (-8.8%)
- The MEDIAN SALES PRICE for August, 2019 compared to last August: (+9.9%)... to $199,000
- Marion County (+6.9%)... to $165,000
- Hamilton County (+9.7%)... to $314,373
- The PERCENT OF ASKED PRICE RECEIVED for August, 2019 compared to last August: (+0.2%)... to 97.8%
- Marion County (-0.2%)... to 97.5%
- Hamilton County (+0.3%)... to 98.5%
- Number of DAYS ON MARKET for August, 2019 compared to last August: (-0.0%)... to 38 days
- Marion County (-3.1%)... to 31 days
- Hamilton County (+2.3%)... to 45 days
- ACTIVE INVENTORY for August, 2019 compared to last August: (-4.3%)... to 6,273 homes
- Marion County (-2.5%)... to 2,254 homes
- Hamilton County (-4.9%)... to 1,292 homes
- The ABSORPTION RATE for August 2019 compared to last August: (-0.0%)... to 1.8 months
- Marion County (+5.9%)... to 1.8 months
- Hamilton County (+5.0%)... to 1.9 months
Read the August, 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
