March home sales and median, average sale prices are higher than 2014
(Indianapolis, IN - Indiana Association of Realtors®) The first quarter of 2015 ended with impressive statewide numbers compared to last year. Data from March and the first quarter showed that housing outperformed the same periods of 2014 in all measures except inventory.
The number of homes for sale decreased four percent from a year ago to just 37,066 available properties in the entire state. Low inventory means buyers should get ready to move fast if they find the right home. The up-tick in listings may indicate that potential sellers are getting ready to meet buyer demand.
Other statewide 2014 year comparisons from the report show:
- The number of pending home sales increased 10.8% percent to 7,109
- The percent of original list price received increased 2.3 percent to 93.7 percent
- The average days on market through March was 99 days.
- The inventory of homes for sale decreased 4.0 percent to 37,066
REALTORS® always have their eyes on the job market, particularly wages, and interest rates to prepare for what’s ahead. Things look good on Indiana’s economic horizon. And pending sales tell us that housing will likely make for more good news in May.
IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange, or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.