Central Indiana existing-home sales jump 8.5 percent

September 27, 2016

Existing-home sales in central Indiana shot up 8.5 percent in August despite a continuing decline in housing inventory.

In the 13-county area, closed home sales grew from 3,004 in August 2015 to 3,258 in August of this year, according to data released Tuesday by MIBOR Realtor Association.

The total number of active home listings dropped 16.6 percent, from 13,074 a year ago to 10,900 at the end of last month.

The average home sale price during the year-over-year period rose 1.9 percent, to $192,140. The median price rose 3.3 percent, to $154,900.

In Marion County—typically the most active market in central Indiana—closed sales jumped 18.5 percent in August from the same month in 2015, to 1,349. The median sale price rose 4.2 percent, to $129,000.

In Hamilton County, closed sales rose 4.9 percent, to 661, while the median sale price rose 6.9 percent, to $250,000.

In Hendricks County, sales slipped 5 percent, to 264, while the median price increased 1.3 percent, to $160,000.

Johnson County saw a 13.4 percent decline in closings, to 245, and the median price dropped 9.4 percent, to $145,000.

In Boone County, the median sales price rose 10.8 percent, to $225,000. Closings were up 7.2 percent, to 119.

Madison County saw sales fall 6.7 percent, to 139, and the median sale price drop 7.5 percent, to $90,650.

A dozen homes priced at $1 million or more changed hands in the area in August, up from eight a year ago.



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