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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 June

The housing market is one of the largest and most important sectors of the U.S. economy. To understand the trends within the market, one must analyze activity both month-overmonth and year-over-year. In this new Market Insights Report, MIBOR REALTOR® Association (MIBOR) provides a market analysis of the 16 central Indiana counties within the MIBOR service area by creating a single, timely reliable source of data.

To create a comprehensive view of the market, small changes have been made to the Market Insights Report that will affect the year-over-year analysis over the next 12 months. In the new report, MIBOR has separated townhouse/condo inventory and properties for lease from the aggregated totals. Separating other segments from the report will add clarity to the data as the single-family residential segment is typically the focus. Finally, in March 2019, MIBOR added historical and current data from Jackson County as we welcomed them as members of our BLC® listing service.

This year, the spring season is shaping up to be nearly as good as last year. So, although the numbers of available properties continue to decline, with the interest rates also staying low and the job market remaining strong, we expect to see the market steady.

Year-over-Year data for April:

• Median sales price increase 5.5% to $187,000
• Average days on market dropped to 43
• Current active listings drop to 4,767

Summary of April, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 16-county service area for the month of April, 2019:

• Number of SOLDS:  April, 2019 compared to last April: (-1.9%)
  • Marion County (-1.9%)
  • Hamilton County (-1.3%)
• Number of PENDINGS:  April, 2019compared to last April: (+6.9%)
• Number of NEW LISTINGS:  April, 2019 compared to last April: (-2.1%)
  • Marion County (+4.3%)
  • Hamilton County (-8.5%)
• The MEDIAN SALES PRICE for April, 2019 compared to last April: (+5.5%)... to $187,000
  • Marion County (+5.9%)... to $161,000
  • Hamilton County (-3.3%)... to $289,950
• The PERCENT OF ASKED PRICE RECEIVED for April, 2019 compared to last April: (-0.3%)... to 97.9%
  • Marion County (-0.5%)... to 97.9%
  • Hamilton County (-0.4%)... to 98.5%
• Number of DAYS ON MARKET for April, 2019 compared to last April: (-4.4%)... to 43 days
  • Marion County (+2.6%)... to 39 days
  • Hamilton County (+2.1%)... to 48 days
• ACTIVE INVENTORY for April, 2019 compared to last April: (0.9%)... to 4,767 homes
  • Marion County (+12.2%)... to 1,627 homes
  • Hamilton County (-5.4%)... to 1,055 homes
• The ABSORPTION RATE for April 2019 compared to last April: (0.0%)... to 1.6 months

Read the April, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

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 2012-2018 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

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 May

In addition to the quandary of ongoing housing price increases and affordability concerns in many U.S. markets, the first quarter of 2019 saw a fair share of adverse weather as well. Sales totals were mixed across the nation and sometimes dependent on what was a persistent wintry mix, especially in the Great Plains, Midwest and Northeast. Meanwhile, new listings and total homes for sale have been trending lower in year-over-year comparisons in many areas, and last year's marks were already quite low.

Closed Sales were down 3.6% to 2,859. Pending Sales decreased 14.7% to 3,653, and Inventory grew 8.8% to 6,212.

Median Sales Price was up 4.9% to $182,000. Percent of Original List Price Received decreased 0.4% to 95.5%. Absorption Rate was up 5.3% to 2.0 months.

The Federal Reserve recently announced that no further interest rate hikes are planned for 2019. Given the fact that the federal funds rate has increased nine times over the past three years, this was welcome news for U.S. consumers, which carry an approximate average of $6,000 in revolving credit card debt per household. Fed actions also tend to affect mortgage rates, so the pause in rate hikes was also welcome news to the residential real estate industry.

Summary of March, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 15-county service area during the three months ending in March, 2019:

• Number of units SOLD for the quarter compared to last year: (-4.6%)
  • Marion County (-2.2%)
  • Hamilton County (-2.0%)
• Number of Pendings for the quarter compared to last year: (+0.2%)
• Number of New Listings for the quarter compared to last year: (-1.8%)
  • Marion County (+0.6%)
  • Hamilton County (+2.0%)
• The Average Sales Price for the quarter compared to last year: (+6.1%)... to $213,156
  • Marion County (+3.8%)... to $168,608
  • Hamilton County (+5.1%)... to $328,318
• The Median Sales Price for the quarter compared to last year: (+5.4%)... to $176,000
  • Marion County (+5.4%)... to $147,500
  • Hamilton County (+4.2%)... to $275,000
• The Percent of Original List Price Received at Sale for the quarter is: (-0.5%)... to 94.8%
  • Marion County (-1.1%)... to 94.1%
  • Hamilton County (-0.7%)... to 95.6%
• The Months Supply of Inventory for March, 2019 in the 15-county MIBOR service area is up 5.3% to 2.0 months... compared to 1.9 months at the end of March, 2018.
  • Marion County (+24.2%)... to 2.0 months at the end of March, 2019... compared to 1.6 months in March, 2018.
  • Hamilton County (-7.6%)... to 2.2 months at the end of March, 2019... compared to 2.0 months in March, 2018.

Read the March, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Realty

homes@curtmikulla.com

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 2012-2018 Five Star Real Estate Agent Award Winner

Want to BUY a home?  Search all homes for sale.
Want to SELL your home?  Get a FREE home value report.

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 April

It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold, rainy and snowy days that have stalled some buying and selling actions. Nevertheless, housing markets have proven to be resilient despite predictions of a tougher year for the industry. It is still too early to say how the entire year will play out, but economic fundamentals remain positive.

Closed Sales were down 2.8% to 2,086. Pending Sales increased 10.6% to 2,786, and Inventory shrank 5.8% to 6,447.

Median Sales Price was up 3.8% to $173,900. Percent of Original List Price Received decreased 0.6% to 94.6%. Absorption Rate was down 4.5% to 2.1 months.

The National Association of REALTORS® recently reported that national existing-home sales were down slightly during January 2019 and that pending sales were up in year- over-year comparisons. It is worth noting that some softening of sales was anticipated, as was a positive sales bounce during January 2019 after a slow end to 2018. Weather- related events have hampered some of the necessary machinations of making home sales during February 2019, yet buyers have shown determination toward achieving their homeownership goals.

Summary of February, 2019 MIBOR Report

Here is a breakdown of the market data from MIBOR's 15-county service area during the three months ending in February, 2018:

• Number of units SOLD for the quarter compared to last year: (-5.4%)
  • Marion County (-3.9%)
  • Hamilton County (-3.3%)
• Number of Pendings for the quarter compared to last year: (+11.4%)
• Number of New Listings for the quarter compared to last year: (+0.8)
  • Marion County (+3.2%)
  • Hamilton County (5.6%)
• The Average Sales Price for the quarter compared to last year: (+7.0%)... to $212,838
  • Marion County (+2.4%)... to $164,499
  • Hamilton County (+8.6%)... to $334,607
• The Median Sales Price for the quarter compared to last year: (+6.1%)... to $175,000
  • Marion County (+4.2%)... to $142,700
  • Hamilton County (+10.7%)... to $289,950
• The Percent of Original List Price Received at Sale for the quarter is: (-0.6%)... to 94.3%
  • Marion County (-1.0%)... to 93.7%
  • Hamilton County (0.6%)... to 95.4%
• The Months Supply of Inventory for February, 2019 in the 15-county MIBOR service area is down 4.2% to 2.1 months... compared to 2.2 months at the end of February, 2018.
  • Marion County (+3.5%)... to 2.0 months at the end of February, 2019... compared to 1.9 months in February, 2018.
  • Hamilton County (-6.6%)... to 2.2 months at the end of February, 2019... compared to 2.4 months in February, 2018.

Read the February, 2019 MIBOR report 

Thanks again for your support... and your referrals. Have a great month!

Curt Mikulla

REALTOR®

Hot House Home Team, eXp Realty

homes@curtmikulla.com

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 2012-2018 Five Star Real Estate Agent Award Winner