Sales of existing homes in central Indiana slip for 26th straight month
The exceptions to the trend were Boone and Hendricks counties, where closed sales increased 24.1% and 9.8% over March 2023.
The exceptions to the trend were Boone and Hendricks counties, where closed sales increased 24.1% and 9.8% over March 2023.
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.”
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.
Sales in the 16-county area decreased in February amid higher prices and a declining inventory.
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.
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.
Closed sales in the area have fallen for 22 straight months on a year-over-year basis, but prices are still on the rise.
Meanwhile, the median sales price for a house in the 16-county area in October jumped 3.9%, to $299,000, from the same month a year ago.
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).
Sales of existing homes in the 16-county area have fallen for 20 straight months.
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.
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.
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.
Sales dropped for the 17th straight month on a year-over-year basis as inventories continued to tighten.
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.
Homes are spending much more time on the market than they did a year ago, but median prices are still on the rise.
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.
While the volume of sales has fallen off considerably since last year’s red-hot market, the number of days a house stays on the market has dropped in recent weeks—a development that many see as a sign of the market stabilizing.
Residential real estate sales in the 16-county area have fallen on a year-over-year basis for the past 13 months and have seen double-digit percentage decreases for eight straight months.
Despite the decline in sales, median prices for homes sold in the 16-county area rose 11% in January on a year-over-year basis, according to the latest monthly data from the MIBOR Realtor Association.