February 1, 2018
Red-Hot Sales Activity and Rising Prices Define Statewide Market in 2017
(INDIANAPOLIS, IN) — Outpacing 2016 sales for the seventh straight month, contract signings on Indiana homes are up 3.3 percent (2,610 closed sales) over 2016 with one month to go. This according to the Indiana Real Estate Markets Report released by the state’s Realtors®.
Statewide year-over-year comparisons (November 2017 vs. November 2016) show:
- The number of pending home sales increased 5.9% to 5,898
- Average sales price of homes increased 7.1% to $175,735
- The number of new listings decreased 3.4% to 6,709
“Although inventory is limited, we are seeing strong, balanced market fundamentals,” said Vallonia’s Cheryl Stuckwish, 2017 President of the Indiana Association of Realtors® (IAR). “Housing starts have rebounded, unemployment continues to decline, and the overall economy is healthy. That has fed consumer confidence, which also remains high. Affordability is a longer-term issue to watch but, all in all, there is a reason to be positive about the prospects of buying and selling a home in Indiana.”