INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for January 2019 shows an increase in new listings and prices.
New listings increased 4.7 percent in January, and 3.0 percent for the quarter.
The median sales price rose 7.5 percent in January and 6.7 percent in the three-month review. The average sales price increased by 7.0 percent in January and 8.1 percent when comparing the three months ending in January.
Closed sales decreased 8.3 percent in January to 1,744.
“As we enter the 2019 real estate market, the increase in new listings is a welcome sign,” said Shelley Specchio, MIBOR CEO. However, unsteady inventory, strong buyer demand and continued price increases are resulting in an extremely busy market. If you are looking to buy or sell, contact your REALTOR® to guide you through the process."
Additional Central Indiana year-over year comparisons (January 2018 vs. January 2019 )
- Pending sales increased 17.1 percent to 2,595*
- Current median sales price: $169,900
- Current average sales price: $206,311
- Months supply of inventory: 2.2 months*
- Total active listings fell by 5.5 percent*
*On April 3, 2018 MIBOR BLC® Listing Service retired the Status of “Active with Contingency” to eliminate marketplace confusion about the status of properties, and set clear expectations for consumers. Listings with this status demonstrated that an offer to purchase had been accepted by the seller and continued to be reported as “Active” while the buyer addressed details in preparation to move forward with the purchase. These listings were included in inventory numbers and used to calculate “Months’ Supply” and “Days on Market”. All properties with an accepted offer to purchase were changed to the Status of “Pending” with a continue to show option and no longer reported as active inventory. Listings with this status are now reported as “Pending Homes.” Significant decreases in inventory and increases in pending sales are a direct result of this status change and not the result of a shift in the real estate market.
Statewide year-over-year review (January 2019 vs. January 2018) shows:
- Percent of original list price received at sale decreased 0.4 percent to 94.6 percent
- Closed home sales decreased 8.6 percent to 4,178
- Pending sales increased 8.2 percent to 5,837
- New listings increased 3.9 percent to 6,677
- Inventory of homes for sale decreased 3.7 percent to 23,130
- Months supply of homes for sale decreased 6.1 percent to 3.1 months
“Prices are still on the rise, which is great news for homeowners and communities,” said 2019 IAR President Brian Thompson of Bloomington. “Realtors expect market conditions to continue until the pace of new home construction picks up and satisfies the high demand of Hoosiers. Robust employment and wage growth remain key to healthy housing markets, as well.”
The attached data report explains how the central Indiana housing market is performing according to eight different indicators. Each indicator will have one-, three-, six- and 12-month comparisons as well as a historical look. Consumers will also have access to specific county information for the 15 counties included in MIBOR’s Broker Listing Cooperative® (BLC®) service area: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam, and Shelby counties.
IAR’s report, found online under the Consumers tab of IndianaRealtors.com, shows how Indiana’s housing market is performing according to the same indicators, with one-month and year-to-date comparisons as well as a historical look. Consumers will also have access to specific county information for 91 of Indiana’s 92 counties in a sortable table format.
This information has been provided by MIBOR REALTOR® Association (formerly named the Metropolitan Indianapolis Board of REALTORS®), the professional association representing central Indiana's REALTORS®. MIBOR serves the needs of over 8,000 members in Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Montgomery, Morgan, and Shelby counties. MIBOR also supplies the BLC® service to REALTORS® in Bartholomew, Jennings, and Putnam counties. MIBOR’s archive of housing data can be found at www.mibor.com.
IAR represents just over 17,500 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.