Indiana News

NEW DATA: Home sales, prices increase, inventory drops in central Indiana

INDIANAPOLIS (WISH) — New data indicates It’s a good time to be selling a home in central Indiana.

On Tuesday, MIBOR Realtor Association released new data for 15 central Indiana counties and the region as a whole.

Overall, existing-home sales increased nearly 21-percent from November 2015 to November 2016. During that time, the number of homes actively listed dropped by 16.5-percent. Fewer homes for sale paired with eager buyers, has a lot more homeowners getting the price they want for their homes and much faster than in previous years, according to the data. Nearly 95-percent of those listing a home are getting list price or better in the current climate. That’s driving the average and median home prices up in central Indiana more than five percent. The average price of a home in Indiana right now is about $193,500.

Marion County had the most home sale closings in the month of November. There new listings are down about two and a half percent compared to last year, but closings increased more than 23-percent. Again, that lower inventory is driving the prices up too, more than seven-percent.

Other counties with big growth in closings and home prices include Hamilton, Hancock, and Hendricks Counties. Counties not performing as well as most in central Indiana include Bartholomew and Shelby counties.