(INDIANAPOLIS, IN) — Indiana REALTORS® have closed the books on December, today releasing their summary of existing-home sales from the last month of 2018 and for the entire year. In this case, existing-homes include singlefamily, townhomes, condos, and co-ops.
“The best news in this report is that prices are still on the rise, which is good for consumers and communities,” said 2019 IAR President Brian Thompson of Bloomington. “It’s not surprising to see sales slow down in December. Winter has arrived, and inventory remains historically low.
- The number of pending home sales decreased 1% to 4,740
- Average sales price of homes increased 6.6% to $187,065
- The number of new listings decreased 0.8% to 4,847
“For those serious about moving, we’d encourage them to ignore the cold weather. There’s great opportunity in winter months because people are typically more motivated,” continued Thompson. “Realtors are optimistic about 2019 and do not expect market conditions to change much until something dramatic happens with new construction or employment and wages.”
Prices increased year-over-year, just as they have done every other month of 2018 and for the last 85 months in a row.
Statewide year-end numbers show the number of closed home sales in 2018 beat 2017 by a small margin of 559 homes.