Statewide Market Sees Above-Average Sales and Pricing Gains Amid Tight Inventory
(INDIANAPOLIS, IN) — Statewide housing levels are still lower than hoped for, but buyers managed to close more transactions than a year ago, according to the Indiana Real Estate Markets Report released by the Indiana Association of Realtors® (IAR).
Statewide year-over-year comparisons (June 2017 vs. June 2016) show:
- The number of pending home sales increased 5.3% to 8,795
- The percent of original list price received increased by 0.5% to 96.7%
- 64 Days Average days on market through June
- The number of new listings increased 1.5% to 11,879
“In competitive markets across the state, thorough planning and quick action are necessary to score a home you love,” said Vallonia’s Cheryl Stuckwish, 2017 President of the Indiana Association of Realtors® (IAR). “I recommend for buyers to obtain a mortgage preapproval letter so you know what budget you’re working with. You don’t want to waste time seeing properties you are unqualified to purchase. That lost time could open the door for the right home to slip away to another buyer.”