Existing-home sales creep up slightly in Indianapolis area
Average home prices continued to rise in November in the 15-county area amid tight inventories.
Average home prices continued to rise in November in the 15-county area amid tight inventories.
Sales and prices for existing homes were both on the rise in October in the 15-county area, according to the latest data from the MIBOR Realtor Association.
Existing-home sales in central Indiana fell in September, the third month of declining sales out of the last seven, amid subpar home-buying conditions.
Thanks to Pinterest and HGTV, buyers often know just want they want when they are building a new home, experts said.
Projects underway in Fishers, Westfield and Noblesville are aimed at addressing the lack of housing options for low- and middle-income earners in Hamilton County, but they will only make a dent.
On a year-to-date basis, single-family construction permits in the nine-county area are up 19 percent.
Housing affordability is at a 10-year low, but home sales are still on the increase in central Indiana.
While the number of homes for sale has crept up through the summer, the available inventory still lags last year significantly.
Three longtime high performers retain the top spots in IBJ’s All-Star team rankings, while Mike Duncan marks 20 years as an agent by topping IBJ’s list of solo stars.
Stringtown is surrounded by activity or proposed activity: at IUPUI to the east, 16 Tech to the north, the former Central State Hospital site to the west, and the former GM stamping plant to the south.
Sales rebounded in July even though prices continued to rise and inventory continued to shrink.
Area builders saw a big jump in new-home applications in July, especially in Marion, Hancock and Hamilton counties.
Indianapolis-area builders saw rising interest in new homes in June, but the growth rate in that demand declined to its lowest point in 14 months.
It was a rare off-month for the market, which has experienced year-over-year sales increases in 27 of the past 32 months.
The number of active listings in central Indiana has inched up slightly after dropping to fewer than 5,000 earlier this year.
An especially low inventory of homes for sale is driving up prices and requiring buyers to take unusual steps to secure the places they want.
The total number of active home listings in the 15-county central Indiana region dropped 25 percent from the end of May 2017 to the end of last month.
Organizers of the affordable-housing and neighborhood-revival effort, designed to attract and retain teachers for urban schools, are set to unveil the first 15 homes.
Brooks Farm would feature 314 homes built by two builders, including attached villas and single-family homes.
The market rebounded from an off-month in March, when sales dropped 7.5 percent on a year-over-year basis—the first decline in seven months.