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Central Indiana home sales rise for 14th straight month

January 25, 2017

Existing-home sales in central Indiana rose 3.4 percent in December, marking the 14th straight month of rising home deals.

The increase came despite a continuing rise in prices and a decline in housing inventory.

In the 13-county area, closed home sales grew from 2,587 in December 2015 to 2,674 in December 2016, according to data released Tuesday by MIBOR Realtor Association.

Closed sales in the area have risen every month on a year-over-year basis since October 2015, when they dipped 1.2 percent.

The total number of active home listings in December dropped 14.9 percent, from 10,077 a year ago to 8,580 at the end of last month. New listings were down 5.3 percent, to 1,821.

The average home sale price during the year-over-year period rose 6.2 percent, to $194,628. The median price rose 7 percent, to $154,000.

Statewide, there was a 3.9 percent increase in closed sales in December compared with 2015, the Indiana Association of Realtors said.

In Marion County—typically the most active market in central Indiana—closed sales rose 0.3 percent in December from the same month in 2015, to 1,072.
The average sales price in the county rose 6.7 percent, to $156,103. The inventory of single-family homes for sale fell 19.7 percent, to 3,144. New listings fell 5.6 percent, to 827.

In Hamilton County, closed sales were flat, at 533, while the average sales price rose 6.5 percent, to $307,338.

In Hendricks County, closed sales rose 6.7 percent, to 240, while the average sales price rose 4.5 percent, to $188,854.

In Johnson County, closed sales rose 3.6 percent, to 233, while the average sales price rose 14.9 percent, to $193,153.

 

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