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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowHome sales in central Indiana continued a downward slide in February, falling for the third time in the last four months.
Closed existing-home sales in the 17-county area fell 5.7% on a year-over-year basis last month, from 1,933 in February 2024 to 1,822 in February 2025, according to the latest data from the MIBOR Realtor Association.
Area sales have fallen in six of the past 11 months on a year-over-year basis.
The median sales price for a home in the area rose 6.8% in February, to $300,000.
The active inventory of homes rose from 3,272 in February 2024 to 3,823 last month, a 16.8% increase.
There were 2,316 new listings in February, down 8.6% from the same month in 2024.
MIBOR CEO Shelley Specchio found some optimism in pending sales figures, which were up 2.6% in February on a year-over-year basis.
“Higher interest rates at the end of 2024 put downward pressure on February closed sales, but demand responded favorably to interest rates falling in January with pending sales growing 2.6% over last year,” she said in written remarks. “Inventory remains fairly tight with only 2.1 months of supply, but the number of active listings continues its slow climb back to a more balanced level.”
Marion County
In Marion County, closed sales in February sank 14.5% from a year ago, to 636. The median sales price in the county rose 4.3% from a year ago, to $245,000.
Other area counties
In Hamilton County, sales jumped 5.7% in February on a year-over basis, to 334. The median sales price in the county increased 1.9%, to $428,000.
In Hendricks County, sales were down 7.2% in February, to 154, and the median sales price fell 4.4%, to $334,500.
In Johnson County, sales increased 8.5% last month, to 178, and the median sales price rose 6.9%, to $333,450.
Sales rose 1.9% in Madison County in February, to 109. The median sales price climbed 31%, to $208,000.
Hancock County sales rose 16.7%, to 98, in February. The median price was up 4.5%, to $349,995.
Sales in Boone County decreased 7.9% last month, to 58, while the median price increased 8.2%, to $387,400.
Morgan County sales sank 32.3%, to 42 last month, and the median sales price dipped 4.2%, to $258,000.
Shelby County saw an 18.8% drop in closed sales in February, to 26. The median price climbed 12.5%, to $242,500.
Statewide sales
The state saw an 6% decline in closed sales on a year-over-year basis in February, with sales falling to 4,930, according the Indiana Association of Realtors.
Statewide, the median sale price rose to $251,000 last month, up 6% from a year ago.
National sales
Existing home sales rose 4.2% nationally from January to February, to a seasonally adjusted annual rate of 4.26 million units, the National Association of Realtors said Thursday.
However, sales fell 1.2% compared with February last year, ending a string of five straight annual increases. The latest home sales topped the 3.92 million pace economists were expecting, according to FactSet. On an unadjusted basis, sales fell 5.2% from February last year, when the month included an extra day because 2024 was a leap year.
Home prices increased on an annual basis for the 20th consecutive month. The national median sales price rose 3.8% in February from a year earlier to $398,400, an all-time high for the month of February. All told, the U.S. median home sales price is up 47% over the last five years.
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