The median sales price for an existing single-family home in the Indianapolis area increased 10.1%, to $200,295, marking the third straight monthly record.
This summer, houses in central Indiana sold after being on the market an average of just one month, half the time of homes sold in 2015. And that’s the average of all houses. Those that are move-in-ready and in desirable neighborhoods—the kinds of homes most buyers are looking for—are often sold within hours or, at most, a few days.
Republican mayoral candidate Jim Merritt’s proposal, announced Wednesday morning, includes creating a metro homicide unit and implementing the “swarm” technique, which would send 10-15 patrol vehicles at one time to “hot spots” in the city.
Sales of existing single-family homes rose 1.8% in central Indiana in September—only the second month of increased sales this year on a year-over-year basis.
The new ordinance is intended to reduce election-related clutter near unincorporated roadways, but it also puts a crimp in the way real estate agents use signs.
Sales of existing single-family homes rose in three of the last four months of 2019 in central Indiana, capping off a sluggish year for transactions amid rising prices and low inventories.
Closed sales in central Indiana have risen on a year-over-year basis in four of the last five months after falling in seven of the previous eight months.
Sales of existing single-family homes increased dramatically in central Indiana in March despite a global pandemic that limited house shopping. Meanwhile, tight inventories helped propel the median home price in the region to a record.
Local brokers have made big changes in the way they sell houses in an effort to protect buyers and sellers during the coronavirus outbreak. It’s not clear yet whether or how much the changes will hurt home sales—in the short term or long term.
Homes are still selling in central Indiana, even as public officials ask us to severely limit personal contact and any non-essential travel outside the home. How? Agents, buyers and sellers quickly adapted to the new state of affairs.
A borrower who took out a 30-year, $200,000 mortgage in 2018 at an interest rate of 4.55% would have a monthly payment of $1,019. By refinancing into a 30-year mortgage with a 3.46% interest rate, the monthly payment would drop to $865.
Sales of existing single-family homes jumped dramatically in central Indiana in July, despite the pandemic, soaring prices and a huge plunge in inventory.
A shortage of moderately priced single-family homes and pent-up demand stemming from the COVID-19 lockdown this spring have caused home prices to rocket higher.
