INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for April 2020 shows an increase in prices.
The median sales price rose 12.3 percent in April compared to April 2019, and increased 0.7 percent compared to March 2020.
Pending sales decreased 19.6 percent in year over year comparison. New listings decreased 32.8 percent in year over year comparison, and 23.9 percent compared to March 2020. Closed sales decreased 16.8 percent compared to last year, and 14.9 percent compared to last month.
“The April market saw much less of an impact from Covid-19 than might have been expected,” said Shelley Specchio, MIBOR CEO. “Median sales price of $210,000 was at an all-time high, gaining 12.3% over last year, although the price was almost flat compared to last month, where normally we would see solid gains in prices between March and April. Percentage of asking price to received of 98.3% was near an all-time high and median days on market remains at just 38, the same as last month. Although sales activity did slow, the numbers show that despite our current atmosphere, many are still eager to buy or sell.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says,“Here we are, in the middle of a pandemic, and housing inventory in Indianapolis is as tight as it ever has been. With inventory that tight, there is almost no way you can conceive of major price declines. Demand for houses would have to fall much, much more before you would see a meaningful decline in prices. What I expect to see is slowing of price appreciation, perhaps into the low single-digits.”
Additional central Indiana year-over year comparisons (April 2019 vs. April 2020 )
- Pending sales decreased 19.6 percent to 2,866
- Current median sales price: $210,000
- Months supply of inventory: 1.6 months
- Total active listings decreased by 17.2 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.