March 1, 2018
Many Aspiring Buyers Ready and Waiting to Make Their Move; Prices Rising With Demand
(INDIANAPOLIS, IN) — Existing-home sales activity held steady in January with buyers closing 4,571 transactions and moving another 5,394 sales to pending, according to the Indiana Real Estate Markets Report released by the state’s REALTORS®.
The Indiana Real Estate Markets Report obtains data from 11 of the state’s 12 Multiple Listing Services (MLSs), Including the Broker Listing Cooperative® (BLC®) in central Indiana. To date, the report represents 98 percent of the housing market statewide and 91 of 92 counties.
Statewide year-over-year comparisons (January 2018 vs. January 2017) show:
- The number of pending home sales decreased 0.4% to 5,394
- Average sales price of homes increased 7.5% to $171,703
- The number of new listings decreased 6.7% to 6,426
“We are now several years deep into a period of rising prices and low inventory,” said South Bend’s John De Souza, the newly-installed 2018 President of the Indiana Association of Realtors®. “Employment is rising, which has consumers feeling even more confident in purchasing real estate as an investment. Aspiring buyers should prepare to give it their all to get a seat at the closing table.”