MIBOR just released its’ Central Indiana sales numbers for August.
- Closings up 2% over last August
- Inventory continues to slide, less than half what it was a year ago
- Causing prices to trend higher, up 15% from a year ago, with the median price now at $228,000
On average, homes are selling quicker. Our new listing from this past week had 14 showings the first day and $OLD for top dollar. More importantly, our client got the kind of terms he needed so he could move forward comfortably in pursuit of his new home. If you’d like that kind of know-how and service, give me a call at 317-625-0655.
Central Indiana home sales are recovering from the impact of the lockdown- as pent up demand pushed sales up 9% from July 2019, and that trend appears to be accelerating.
Inventory remains challenged, down 46% from a year ago.
But new listings showed a spark of life, up 7% from a month ago (so there is new hope for more homes being available).
Good houses are going faster and selling at almost 99% of asking price on average. Prices are continuing to rise, with the median sales price now $225,000.
If you see something you like, [CLICK HERE for THIS WEEK’S NEW HOME LISTINGS] let’s check them out before it’s too late.
Dr. Elliot Eisenberg, an internationally acclaimed economist/public speaker says, “National indications are that as the result of the great lockdown of 2020, many families are re-thinking their housing situation and realize that they want something different, usually larger and more tailored spaces, along with less proximity to neighbors. This same scenario may well be playing out here in Indianapolis, where families are now placing a premium on having more space for a home office and workout area.”
I couldn’t agree more. Last week, my Hamilton County listing with six private acres had 32 showings in 4 days. The Seller couldn’t be more pleased with that SOLD sign up in their yard!
Let me show you the housing data just released from the MIBOR BLC® comparing May 2019 to May 2020:
- An increase in Median Sales Price of 9.2 percent to $215,000
- An decrease in Closed Sales of 23.3 percent to 2,703
- New Listings decreased 21.2 percent to 3,744
And more specifically for Marion County….
Despite our current atmosphere, these numbers indicate that many are still eager to buy… When you are ready, give me a call at (317) 625-0655.