New Housing Year Off to Encouraging Start

March 9, 2016

Home Values and Sales Jump Despite Wintry Weather

INDIANAPOLIS, IN) — January’s median home sale price jumped to $124,900, which is an 8.6 percent increase from the same month of 2015. This is according to the Indiana Real Estate Markets Report today released by the state’s REALTORS®.

Other statewide year-over-year comparisons (January 2016 vs. January 2015) show:

  • The number of pending home sales increased 6.8% to 5,219
  • The percent of original list price received increased .8% to 93.4%
  • Average days on market through January was 83 days
  • The number of new listings decreased 9.3% to 7,066

“Even though winter can be a slow season for real estate, market activity hasn’t let up just because of a little snow and ice,” said Shelbyville’s Nancy Smith, 2016 President of the Indiana Association of REALTORS®. “Strong buyer demand and a limited supply of homes for sale keep pushing prices up. Potentially higher sale prices could be enough incentive to convince on-the-fence sellers that now is the time to make a move and list their properties.”

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