As expected due to the pandemic, the number of houses sold from March through May dropped by 10% compared with last year and the number of houses on the market dropped by 31%.
Area existing-home sales sank 23% in May as prices hit all-time high
May’s sales decline in the 16-county central Indiana area came on top of a 16.8% year-over-year decrease in April.Read More
Area homebuilders saw applications rise in April despite pandemic limitations
Applications for home construction permits rose 5% in the Indianapolis area in April, marking the ninth monthly increase in the past 10 months on a year-over-year basis.Read More
Real estate agents, home sellers, buyers adjust to social-distancing norms
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.Read More
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
Sales ticked up in February—but that was before the coronavirus all but shut down the local economy.
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.
Applications for home construction fell 15 percent in November, which means Indianapolis-area builders will need a huge December to match 2018’s numbers.
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.
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.
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.
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.
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.