November 1, 2018
(INDIANAPOLIS, IN) — Indiana REALTORS® have closed the books on September, releasing their summary of existing-home sales – single-family, townhomes, condos, and co- ops included – from last month. Low inventory and high demand continue to drive markets around the state.
- The number of pending home sales increased 2.2% to 7,061
- Average sales price of homes increased 6.6% to $$187,156
- The number of new listings increased 1.2% to 8,974
Prices increased year-over-year just as they have done every other month of 2018 so far and for the last 82 months in a row. Statewide, the median sales price is $160,000, a 6.7 percent increase when compared to September 2017. The average sales price is $187,156, a 6.6 percent increase from the same month last year. A research tool provided by the Indiana Association of REALTORS®. Percent changes are calculated using rounded figures.
REALTORS® do not expect conditions to change until something dramatic happens with new construction or employment and wages. Given our now historically low inventory, sellers can still get very close to asking prices, which makes it a great time to sell.