Real estate market continues to fall
INDIANAPOLIS (WISH) — While sale prices are on the rise, the real estate market continues to fall. Realtor Dan Brown joined Daybreak to discuss why the market is falling.
“It’s still a dynamic market. It is slowing down a little bit. Some of that is just due to the season. Although we’re still very busy, the market still is clipping right along. People are buying and selling houses every day. One of the big impacts of course is that the interest rates have picked up,” Brown said.
The average September home sale price for the 16-county central Indiana region was $319,568, an increase of 10.7 percent compared to September 2021. Available housing inventory increased, up 55.5% compared to September 2021.
Madison County showed the greatest increase in pended home sales with 15.9% growth compared to Sept. 2021. Jennings County pended sales had the greatest decrease with 63% fewer homes sold in Sept. 2022 compared to this time last year.
Homes sold in 18 days on average, which is 5.3% faster than in 2021. Hamilton County homes left the market 27.8%, or five days, more quickly than in 2021, selling the fastest in the 16-county central Indiana area.
Watch the video above for more!