Monday, May 21, 2012 / by Carlos J Higareda
Statewide housing market improves on all indicators as inventory drops
Buyers are taking advantage of the low prices and sellers are starting to reap the benefits of the shrinking inventory. Now is a good time to buy or sell a home in Indianapolis and the surrounding area!
(INDIANAPOLIS, IN) – REALTORS® today released their monthly Indiana Real Estate Markets Report, which showed that statewide, when comparing April 2012 to April 2011:
• The number of closed home sales increased 13 percent to 5,568;
• The median sale price of those homes increased 2.7 percent to $116,000;
• The average sale price increased 3.5 percent to $137,533;
• The number of pending home sales increased 11.8 percent to 6,101;
• The number of new listings increased 2.3 percent to 11,340; and
• The percent of original list price received increased 0.1 percent to 90.7 percent.
“April was one of the best months the statewide housing market has seen in years,” said Karl Berron, Chief Executive Officer of the Indiana Association of REALTORS®. “And members are confident the next few months of the traditional selling season will follow this positive trend so long as Hoosiers are working.
“Going forward, we will be closely watching the activity related to the percent of original list price received at sale and inventory of homes for sale,” continued Berron. “Favorable supply-demand trends may finally be ticking toward sellers, though with still historically low interest rates, qualified buyers have a great market in which to make an investment.”
Source: IAR(Indiana Association of Realtors)