Local Housing Market Trends. Good News!

Reports released show favorable reports for our local housing market.

For only the second time this year, monthly home sales outpaced last year. According to the Indiana Real Estate Markets Report released by Indiana’s REALTORS®, 583 more homes sold statewide in September than in September of 2013. That is a 9.1 percent increase.

keysAnd, September median home sales prices rose by 3.6 percent, with the median sale price of $128,000, and the average of $152,146 with a 3.8 percent increase.

Here’s the comparison of September 2013 and 2014:

  • The number of pending home sales increased 12.7 percent to 6,210
  • The percent of original list price received increased 1.7 percent to 93.9 percent
  • The number of new listings increased 4.0 percent to 9,922
  • The inventory of homes for sale decreased 2.2 percent to 44,799

“It’s the second time this year that monthly home sales beat last year, but the first time they’ve done so in a meaningful measure,” said Kevin Eastridge, 2014 President of the Indiana Association of REALTORS®. “Prices continued to gain traction and local markets across the state seem to be back on the recovery track after a brief pause.

“The departure of investors from the scene should benefit first-time homebuyers, but student debt and sluggish wage growth have slowed that transition,” continued Eastridge. “The economy is growing, but it’s growing at a slower pace than desired. Thankfully, inflation remains tame.”‘

If you’re in the  market to buy and/or sell a home, please contact me. I look forward to meeting you!

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