The Metropolitan Indianapolis Board of REALTORS® is the professional association representing central Indiana’s REALTORS®. MIBOR serves the needs of more than 6,000 members in Boone, Brown, Hamilton, Hancock, Hendricks, Johnson, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies BLC® listing service to REALTORS® in Decatur, Madison and Putnam counties.
Director of Member
& Industry Advocacy
Follow me on Twitter: @cpryor1912
Political Affairs Liaison
Economic and Community Development Liaison
Local Market Review: Listing and Inventory Gains Seen in March
Housing data released by MIBOR this week shows an increase in new listings in the central Indiana housing market with a slight uptick in months of inventory. Across the region, new listings increased 3.8 percent in March, the first gain all year. Months of Inventory moved slightly higher as well with inventory currently standing at 4.7 months compared to 4.3 months in February.
Sales prices remain strong. The Median Sales Price increased 6.7 percent in the first quarter to $129,155 compared to last year and jumped 6.5 percent in March only data to $134,222 compared to March 2013. Average sales price also fared well with a 6.3 percent increase in the first quarter to $160,989 over first quarter 2013 and up to $165,130 for March only – a 5.8 percent increase over March one year ago.
“In March, the central Indiana market witnessed a welcome increase in new listings which contributed to overall inventory gains,” said Janet Jernigan, 2014 MIBOR president. “It’s a sign that new sellers are emerging. We need to see that trend continue to meet the needs of eager buyers.”
On the county level, Boone, Hamilton, Hancock, Hendricks, Johnson, Marion and Shelby counties saw an increase in listings when compared to March 2013. Hamilton and Boone county averaged above the trend in sales price across the region.
Along with the Monthly Indicators Report, a one-page report of each county
within the service area is also provided. In total, these data sets are intended to be a snapshot of the market, providing historical comparisons whenever possible. The data was pulled from the BLC® listing service on April 16. To download the full report, including the Monthly Indicators report and one-page county reports, click here
Please note, due to the length of the reports, it may take a few minutes to download. If you have questions regarding the data, please click here
Northeast Corridor Quality of Life Planned Unveiled
Residents, stakeholders and elected officials in the Indianapolis Northeast Corridor are not waiting for change to magically appear throughout their neighborhoods. Over the last year and a half, they’ve been actively engaged in a process to address business growth, culture/connectivity/livability, education, health/wellness, housing, jobs/training, safety/crime and youth engagement. Their hard work was unveiled last month at the Northeast Corridor’s Quality of Life Plan event. Attendees learned what each planning process action team has in store for the area. MIBOR is proud to have supported the planning process through investment and data resources. Community members now transition to implementing the plan. Check out the feature on the NE Corridor in NUVO and stay up to date on how the plan progresses or get involved here.
Governor Pence Signs Transit Bill into Law
For the first time ever, local officials and voters have been given a choice to invest in connected neighborhoods and better access to jobs and healthcare. SB 176, the central Indiana mass transit bill, successfully made its way through the General Assembly during the 2014 session and was signed into law by Governor Pence. The bill outlines a formula of local revenue, rider fares and business investment to expand regional transit in six counties, Marion, Hamilton, Hancock, Johnson, Delaware and Madison. REALTORS® have been working hard to move this issue forward since 2006. This is the first of many steps to bring the Indy Connect plan to reality.
Placemaking Grants Available from MIBOR
Placemaking is a way to make your community a better place to live and work by transforming public spaces into vibrant community places. As a place becomes more desirable and welcoming, properties around that place increase in value. Funding from $500-$2,500 for a limited number of Placemaking projects is available to communities and organizations within MIBOR’s service area to help plan, organize, implement and maintain projects to improve a neighborhood with small, inexpensive, incremental projects which will help to make the neighborhood a better place to live, work and play.
Contact Sara Laycock at 317-956-5258 or email@example.com for more information on how to apply.