Our housing market trends continue strong! According to the Indiana Real Estate Markets Report, May home sales were 24 percent higher than those in April; making the fourth month in a row that the number of closed homes across Indiana increased from the month prior.
According to the 2014 President of the Indiana Association of REALTORS®, Kevin Eastridge, local housing markets continue to improve month-to-month with home values increasing.
That being said, the 7,552 homes sold in May statewide was 3.7 percent lower than homes sold in the same period last year.
Here are some year-over-year comparisons the report shows:
- The median sale price of homes increased 0.4 percent to $128,000
- The average sale price increased 2.3 percent to $154,016
- The percent of original list price received increased 1.6 percent to 94.2 percent
- The number of pending home sales decreased 2.3 percent to 7,448
- The number of new listings decreased 1.4 percent to 12,377
“Low inventory keeps activity from jumping year-over-year hurdles. In addition to more homes for sale, housing most needs further job creation, wage growth, and credit availability.” said Eastridge.
If you’re looking to sell your home or buy a new home, please contact me. I would be happy to be your real estate partner!