The median sales price in the 16-county central Indiana area for the first quarter of this year was $275,000, up 7.9% from $254,000 in the same period of 2022.
The amount of time homes are spending on the market in the Indianapolis area is soaring compared with a year ago, but median sales prices are still on the rise.
The amount of time homes are spending on the market in the Indianapolis area has almost doubled compared with a year ago, but median sales prices are still on the rise.
Existing homes in the 16-county area are spending much more time on the market than a year ago, from an average of 22 days in August 2022 to 31 days last month.
Both candidates have jockeyed for endorsements from various interest groups as the Nov. 7 election nears. The FOP decision not to endorse a candidate after it had endorsed Hogsett in his past two runs for mayor could mark a shift in what is likely his most competitive election.
Finkam and Nelson are running to succeed seven-term Mayor Jim Brainard and lead a city that has grown from suburb of 30,000 people into a regional powerhouse with more than 100,000 residents, more than 150 corporate headquarters and 148 roundabouts (and counting).
Mortgage rates escalated for the first 10 months of last year. No surprise: Existing-home sales in the 16-county area dropped from 35,876 in 2022 to 29,483 in 2023.
Sales of existing homes in central Indiana have fallen for 24 straight months on a year-over-year basis., but the market showed signs of improvement in January amid a small decline in mortgage rates.
Experts say this year will see a continuation of the same pattern that’s governed the market since before the pandemic—too many buyers chasing not enough listings—with higher interest rates complicating the picture.
Carmel’s housing options mostly fit into two opposite categories: single-family detached houses in subdivisions and multifamily apartment buildings in the downtown core. City officials want to explore a third category: the “missing middle.”
