ADDRESS

8915 S Keystone Ave Ste C
Indianapolis, IN 46227

PHONE

317-657-8059

Housing Market Update for Central Indiana- the last 7 days by the numbers.

Now that March is here, I should be reporting that homes are coming back on the market by droves. Unfortunately (for everyone but the few sellers on the market), that has not occurred.

In the last 7 days we have seen:

  • 1186 new listings
  • 250 homes back on market
  • 776 homes are pending sale
  • 101 withdrawn from the market
  • 820 homes sold
  • 577 listings have expired

Ignoring the pending sales for now as they will join the sold column in the coming weeks, and treating the “withdrawn” the same as they will become expired listings once the term of their contract ends, we end up with 1436 houses listed this week, and 1397 homes left the market. I like to be positive so I will point out that the fact there is only a 39 house difference between the two means that if you list you home right now, you should expect a fairly quick turn around. It also means that if you are buying, we are going to have a difficult time finding a well priced and quality home.

As people who have kept up  with my reports know, this is a continuation of a strong sellers market trend. For the last couple of years and especially the last 9 months or so there has been a serious deficit of new homes entering the market as compared to homes selling. At this time we have a 20 year listing low in the MIBOR (Metropolitan Indianapolis Board of Realtors) area.

What does that mean to you? Well, it depends on who you are.

  • If you are thinking of listing your home, give me a call at 657-8059 and we will get you moving. Priced right and presented well your home will sell quickly.
  • If you have a home on the market and it hasn’t sold yet. Talk to your realtor and figure out what is stopping it. If they can’t solve the problem and your contract expires without the home being sold, shoot me an email at robb@yourrealtylink.com so we  can solve the problem and actually get your home sold.
  • If you are looking to buy a home, give yourself plenty of time to search (6 months vs the normal 3)…have your finances in order, a preapproval, and be ready to make an offer when we find the house you want. It wont be on the market long if it is priced well. Of course buyers can call or email too.

So that is what is going on in the central Indiana housing market right now. Let me know what you think of this report. I plan to make it a weekly feature here at Realty With Robb, and want to tailor it to provide the maximum benefit for my readers and my clients.

On a side note, over at Your Realty Link we are adding a feature for new construction and custom built homes, that will be of great benefit to buyers in the next several days. I will so a write up on it when it is ready to sail. Have a great day.

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