Local Market Spotlight!

March Shows Listing and Inventory Gains

Housing data recently released by MIBOR (Metropolitan Indianapolis Board of Realtors) shows an increase in new listings in the Central Indiana housing market. New listings increased by 3.8 percent across the region in March, which was the first gain to-date this year.

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More good news…sales prices remain strong. The median sales price increased by 6.7 percent in first quarter 2014 from last year at $129,115. March only increased 6.5 percent to $134,222 compared to March of last year. Average sales price showed a 6.3 percent increase in first quarter to $160,989, over first quarter 2013. March only increased 5.8 percent over last year, up to $165,130.

First quarter 2014 closed sales and pending sales showed similar patterns by decreasing 11.4 percent and 13.5 percent respectively.

New Home Construction Filings Increase

The Builders Association of Greater Indianapolis (BAGI) has reported that local homebuilder single-family building permits in a nine-county area totaled 459, which is a six percent increase from March 2013. It’s also a 21 percent increase from February.

Mortgage Rate News

The Indianapolis Business Journal Daily has reported that the average 30-year mortgage fell to 4.47 percent from 4.54 percent for the week of April 7th. The 15-year mortgage rate fell from 3.58 percent to 3.52 percent.

All of these statistics show a strong housing market. If you’re thinking of buying a new home or selling yours, please contact me to get started!

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