(INDIANAPOLIS, IN) – Indiana REALTORS® have closed the books on June, today releasing their summary of existing-home sales from the sixth month of 2019. Existing-homes include single-family, townhomes, condos, and co-ops.
The traditional statewide year-over-year comparisons - June 2019 vs June 2019 - show:
- The number of pending homes increased 2.0% to 8,980
- Average sales price of homes increased 6.3% to $209,700
- The number of new listings decreased 6.9% to 10,824
“Ninety-one months in a row - that's how long home prices have increased at the statewide level here in Indiana,” said 2019 IAR President Brian Thompson. “These price increases are absolutely a result of low inventory and high demand. There is simply not enough desirable housing stock to satisfy consumer needs.
“Be ready to move - that's the best advice Realtors® can give our clients these days," continued Thompson, "For sellers, the advice is literal. A quality home is going to sell quick. For buyers, the advice is about preparation. Buyers need to come to the home search ready to make an offer, which means knowing their budget and having their financing ready to go.”
The Indiana Association of REALTORS® partners with eight of the state's nine listing services to publish the monthly Indiana Real Estate Markets Report. The report represents 98% of the housing market statewide and 91 of 92 counties.