REALTORS® RELEASE MARCH CENTRAL INDIANA HOUSING DATA
REALTORS® are working hard to provide new homebuying and selling experiences
INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for March 2020 shows an increase in prices, sales and new listings.
The median sales price rose 14.8 percent in March compared to March 2019, and increased 11.2 percent compared to February 2020. Pending sales increased 1.2 percent in year over year comparison.
New listings increase 1.5 percent in year over year comparison, and 29.3 percent compared to February 2020. Closed sales increased 5.8 percent compared to last year, and 37.8 percent compared to last month.
“Despite COVID-19, March set new records as activity in the early part of the month was so strong it compensated for the post “stay-at-home” slowdown,” said Shelley Specchio, MIBOR CEO. “For the month, sales were up 5.8% over last year and the median sales price rose to $209,000, an all-time record high price. However, with the impact of COVID-19 beginning to take hold, its uncertain as to how it will affect the real estate market moving forward.”
“REALTORS® are working hard to provide new homebuying and selling experiences. Real estate services are now being conducted virtually, including virtual showings. The housing market is open for business and REALTORS® are ready to help, however it is not business as usual as we all adapt during these times.”
“Because of Indianapolis’ reasonably diverse economy and large employment in the health, pharmaceutical and technology sectors, it should be somewhat protected from the worst of the post-Covid impacts, outside of the obvious impacts on tourism.” Eisenberg goes on to say, “Looking forward, I expect to see meaningful declines in housing activity in April, and when stay-at-home orders are lifted, sales will somewhat rebound. Hopefully, 20Q2 will soon be remembered as a small blip in an otherwise secular good housing market.”
Additional central Indiana year-over year comparisons (March 2019 vs. March 2020 )
- Pending sales increased 1.2 percent to 3,353
- Current median sales price: $209,000
- Months supply of inventory: 1.4 months
- Total active listings decreased by 12.8 percent
The attached MIBOR REALTOR® Association (MIBOR) Market Insights Report provides a market analysis of the 16 central Indiana counties within the MIBOR service area by creating a single, timely, reliable source of data. The report analyzes both month-over-month and year-over-year to give a view of the trends occurring in the central Indiana market. Consumers will also have access to specific county information for the 16 counties included in MIBOR’s Broker Listing Cooperative® (BLC®) listing service area: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam, and Shelby counties.
To coincide with the new MIBOR Market Insights Report, MIBOR has added a consumer tool to allow members of the public to view a number of market metrics such as number of units sold, median sales price, number of new listings and more. The metrics are shown graphically to show the trends in the marketplace. To view the new Market Insights, visit www.mibor.com/marketinsights.
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 8,500 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, Jackson, Jennings, and Putnam counties. MIBOR’s archive of housing data can be found at www.mibor.com/marketinsights.