Sales and Prices Makes Moves Up in October; Supply Constrains Still in Play
(INDIANAPOLIS, IN) — Monthly pending sales of Indiana homes and completed contract signings edged up nearly 9 percent over October 2016. This according to the Indiana Real Estate Markets Report released by the state’s Realtors®.
Statewide year-over-year comparisons (October 2017 vs. October 2016) show:
- The number of pending home sales increased 8.8% to 6,950
- Average sales price of homes increased 6.3% to $175,488
- The number of new listings increased 3.4% to 8,618
“Statewide housing inventory has struggled to improve this year alongside near-record sales numbers, so October’s boost of new listings was a welcome sight,” said Vallonia’s Cheryl Stuckwish, 2017 President of the Indiana Association of Realtors® (IAR). “With a healthy economy, higher buyer demand, and low unemployment, sellers are going to continue to see strong prices for their homes.”
According to the Indiana Department of Workforce Development, Indiana’s unemployment rate stands at 3.9 percent for October and remains lower than the national rate of 4.1 percent.