Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 16, 2017

Indianapolis Real Estate Market - August 2017

Here to talk about the real estate market. In July, we saw just over 3,600 homes sell in the Indianapolis-Metro area. That was a 3.7% drop year-over-year, primarily driven because of a lack of inventory. You may have heard, we hit record lows. Lowest since they've been tracking housing inventory in the 1980's.

We currently have just over 15,000 units for sale. That's about 4 months of inventory, which means it's still a seller's market. If you look at the current days on market for Hamilton and Marion County, it's about 30 days. So, homes that are priced well, staged well, and marketed well are moving very fast. In Boone County, it's up to about 49 days; it's still a seller's market.

If you look at the higher price points, between 500,000 and 1 million, what's interesting there is that back in the spring we had a lot of inventory. So, it was a buyer's market. Things were moving slowly. In June, that flipped to a seller's market because the inventory shrank so much. And, now we are seeing that market stabilize.

If you are looking to sell and you want to talk about strategies to get your home sold fast, for top dollar, or, you're looking to buy and you are looking to move fast given the current market, I'd love to hear your goals.

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates
July 4, 2017

Hamilton County Median Home Prices Up 11.5% Year To Date

The state of the housing market for Hamilton County remains quite strong. Median home prices since January 2017 are up 11.5% and, based on current demands, I believe median home prices will continue to increase.

New construction growth is up 16% over the past two years and continues to grow. Home builders can't build new homes fast enough to keep up with the housing demand. The number of active listings is down 7% year-over-year for Hamilton County, which is driving up prices and competition up for home buyers.

Since June of 2013, median home sales in Hamilton county have increased in value annually by 5.8%. With the news of increasing job growth, capital investments by the townships, and strong schools, the investment outlook remains strong.

At the beginning of the year, the main headwind discussed for increasing home values was the forecasted interest rate hikes by the federal reserve. Given the Federal Reserve hiked the rates in June for the 3rd time since December, and the 30-year mortgage rates are still very low in comparison to recent history, I don't foresee rising interest rates having a negative impact on home sales this year.

Although it's a seller's market, I believe the housing market is on stable ground in Hamilton County and home values will continue to rise through next year.

Find out what your home will sell for today.

Source: Housing data from Mibor and new construction data from BAGI.

 

Posted in Market Updates