August 4, 2016
(INDIANAPOLIS, IN) — May existing-home sales are up a sizable 14.3 percent from this time last year, as found within the Indiana Real Estate Markets Report today released by the state’s REALTORS®.
Other statewide year-over-year comparisons (May 2016 vs. May 2015) show:
- The number of pending home sales increased 2% to 8,393
- The percent of original list price received increased 0.9% to 95.9%
- Average days on market through June was 71 days
- The number of new listings decreased 5.3% to 11,516
“The current housing market is one of the more competitive I’ve seen,” said Shelbyville’s Nancy Smith, 2016 President of the Indiana Association of REALTORS®. “As a result, inventory constraints are sticking around as sales make further gains. Would-be buyers aren’t dawdling in a time when quality listings often sell right after entering the market. For this hot market streak to keep up through summer, we really need a supply boost to satisfy the fierce demand.”