REALTORS® RELEASE AUGUST CENTRAL INDIANA HOUSING DATA
INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for August 2020 shows an increase in prices.
The median sales price rose 14.6 percent in August compared to August 2019, and increased 1.3 percent compared to July 2020.
Pending sales increased 20.3 percent in year over year comparison. New listings decreased 7.3 percent in year over year comparison, and 8.8 percent compared to July 2020. Closed sales increased 1.8 percent compared to last year and decreased 9.3 percent compared to last month.
“This month both closed and pending sales are very strong, with new pending sales at the highest level of the last ten years. This is evidence that the housing market is strong and isn’t slowing down anytime soon,” said Shelley Specchio, MIBOR CEO. “REALTORS® note that buyers continue to be motivated by lower interest rates and their desire for more and better space.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “The Indianapolis real estate market re-wrote the record book again in August. The median sales price rose 14.6% to $228,000, the highest price on record. For all of 2020, year-over-year price appreciation has averaged 11.2%, and the only time in the past decade that we saw anything that exceeded this year-over-year gain was the 14.8% we saw in April 2010.” He continues, “Your home prices have basically doubled over the last ten years, while corresponding inflation rose only 20 percent!”
Additional central Indiana year-over year comparisons (August 2019 vs. August 2020 )
- Pending sales increased 20.3 percent to 4,082
- Current median sales price: $228,000
- Months supply of inventory: 0.8 months
- Total active listings decreased by 53.0 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.