REALTORS® RELEASE MAY CENTRAL INDIANA HOUSING DATA
INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for May 2020 shows an increase in prices.
The median sales price rose 9.2 percent in May compared to May 2019, and increased 2.4 percent compared to April 2020.
Pending sales increased 9.7 percent in year over year comparison. New listings decreased 21.2 percent in year over year comparison, but increased 32.7 percent compared to April 2020. Closed sales decreased 23.3 percent compared to last year, but increased 5.1 percent compared to last month.
“Prices hit yet another all-time high this month, the third month in a row of such records, with median sales price at $215,000, 9.6 percent more than last May and 2.4 percent more than last month alone,” said Shelley Specchio, MIBOR CEO. “In addition, evidence of pent up demand is seen in the record number of pending sales with an increase of 46.2 percent from last month. Despite our current atmosphere, these numbers indicate that many are still eager to buy and our REALTORS® are ready and willing to help.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “National indications are that as the result of the great lockdown of 2020, many families are re-thinking their housing situation and realize that they want something different, usually larger and more tailored spaces, along with less proximity to neighbors. This same scenario may well be playing out here in Indianapolis, where families are now placing a premium on having more space for a home office and workout area.”
Additional central Indiana year-over year comparisons (May 2019 vs. May 2020 )
- Pending sales increased 9.7 percent to 4,054
- Current median sales price: $215,000
- Months supply of inventory: 1.3 months
- Total active listings decreased by 34.7 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.