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Central Indiana home sales rise for 15th straight month

February 22, 2017

Existing-home sales in central Indiana rose 4.3 percent in January, marking the 15th 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 1,667 in January 2016 to 1,739 last month, according to data released Wednesday 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 January dropped 16 percent, from 9,880 a year ago to 8,296 at the end of last month. New listings were flat, at 2,468.

The average home sale price during the year-over-year period rose 6.3 percent, to $182,403. The median price rose 4.3 percent, to $143,500.

Statewide, there was a 5.2 percent increase in closed sales in January compared with the same month of 2016, the Indiana Association of Realtors said, and the average price of a home rose 6.3 percent, to $160,294.

In Marion County—typically the most active market in central Indiana—closed sales rose 9.9 percent in January, to 780.

The average sales price in the county rose 13 percent, to $149,748. The inventory of single-family homes for sale fell 19.4 percent, to 3,443. New listings were up 3.3 percent, to 1,065.

In Hamilton County, sales were down by 6.7 percent, to 327, while the average sales price rose 2 percent, to $279,256.

In Hendricks County, sales rose 9.5 percent, to 140, while the average sales price rose 9.5 percent, to $198,112.

In Johnson County, sales rose 0.8 percent, to 134, while the average sales price increased 20.4 percent, to $205,007.

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