Sales ticked up in February—but that was before the coronavirus all but shut down the local economy.
Indianapolis-area homebuilders see huge surge in applications
Applications for home construction permits soared 34% in the Indianapolis area in February. The flurry of new applications came before the first cases of COVID-19 hit Indiana.Read More
Unexpected slow November snaps second-half surge in home-building activity
Applications for home construction fell 15 percent in November, which means Indianapolis-area builders will need a huge December to match 2018’s numbers.Read More
How to be a buyer in a seller’s market
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.Read More
Area existing-home sales break out of seven-month slump
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.Read More
Donald and Leslie Bolinger’s vaguely Old World-looking Carmel home seems like it belongs in one of Indianapolis’ historic neighborhoods.
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.
Sales of existing single-family homes decreased 4.5% in central Indiana in November—ending a two-month streak of increases.
Sales are still down in the area on a year-to-date basis amid tight inventories and rising prices.
Jeff and Anna Tegethoff spent 16 months renovating a condo at 429 N. Pennsylvania St. into what he calls an “urban oasis.” But six months after moving in, they’re putting the house on the market.
Inventory remains low. As of Sept. 1, the region had just two months of supply—10% less than at this time last year—meaning it would take just two months to sell out the current inventory of houses if no more came on the market.
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.
Housing inventory remains low at just 1.6 months, meaning that’s how long it would take to sell the region’s available housing. That’s down 5% from a year ago, when inventory was already tight.
Median home prices in central Indiana reached an all-time high in June amid tighter inventories and fewer new listings.
On a year-to-date basis, closed sales of existing homes in the 16-county Indianapolis area are down 3%, to 12,731.
The Fishers City Council on Monday night approved a development agreement between the city and Indianapolis-based Scannell Properties, which has 14 residential parcels under contract south of the Nickel Plate District.
On a year-to-date basis, sales of existing single-family homes are down 3.8 percent in the area, to 9,249.
Becoming a homeowner is likely to get more costly and competitive over the next decade as millions more Americans enter the age range where people typically seek to buy their first home.
Marion County, however, saw a 4.7 percent increase in closed home sales in March amid rising inventories.
Higher prices, low inventories and climbing interest rates have all combined to slow growth in the market. And colder-than-usual weather last month didn’t help.
The number of active listings in central Indiana—at 5,077 at the end of February—remains low, although it’s 15 percent higher than at the same time a year ago.
Last year turned out to be the busiest year for builders in more than a decade, but filings have been slowing since the fourth quarter.
One encouraging sign for future months was pending home sales, which rose 17.1 percent in January.
Would-be homebuyers are increasingly priced out of the market as years of climbing prices and strained inventories have made ownership too costly.