Strong Demand Pushes Prices to Record Levels
(INDIANAPOLIS, IN) — Indiana REALTORS® have closed the books on June, today releasing their summary of existing-home sales from last month.
Most notably, the sales price of homes — single-family, townhomes, condos, and co-ops included — is still on the rise. Statewide, the median sales price of homes is $165,000, a 5.8 percent increase when compared to June 2017.
Other statewide year-over-year comparisons (June 2018 vs. June 2017) show:
- The number of pending home sales increased 0.5% to 8,802
- Average sales price of homes increased 5.8% to $197,317
- The number of new listings decreased 1.6% to 11,631
“The limited inventory of homes for sale continues to challenge the strong demand shown by Hoosier buyers this year, resulting in median prices hitting record levels,” noted 2018 IAR President John De Souza of South Bend. “In this low-inventory market, guidance from a REALTOR® on how to juggle offers, negotiate, and close the deal is invaluable.”