November Home Prices Rise, Closed Sales Dip

January 11, 2016

Strong Pending Sales Suggest Promising Start to New Year

(INDIANAPOLIS, IN) –Out-pacing last year for the 11th straight month, November’s average sale price rose 6.7 percent statewide to $158,175 — the largest jump since March 2015. This is according to the most recent Indiana Real Estate Markets Report today released by the state’s REALTORS®. The report’s other year-over-year comparisons show:

  • The number of pending home sales increased 10.1% to 5,387
  • The percent of original list price received increased .4% to 93.9%
  • Average days on market through October was 75 days
  • The number of new listings increased 6.4% to 6,796

“We’re approaching the end of a year when home prices hit pre-recession levels in many markets across the state,” said Brownsburg’s Bruce Bright, 2015 President of the Indiana Association of REALTORS®. “And despite a small dip in closed sales, November’s increase in pending transactions suggests closed sales will get a head start going into 2016.”

IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange, or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

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