INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for December 2020 shows an increase in new listings.
The median sales price rose 14.4 percent in December compared to December 2019, and decreased 0.6 percent compared to November 2020.
Pending sales increased 28.4 percent in year over year comparison. New listings increased 20 percent in year over year comparison, and decreased 24.4 percent compared to November 2020. Closed sales increased 20.5 percent compared to last year and 2.6 percent compared to last month.
“The Indianapolis story continues to revolve around inventory levels. With only 2,396 active listings and just 0.7 months of inventory, inventory levels are, again, at an all-time low,” said Shelley Specchio, MIBOR CEO. “New listings saw the strongest year-over-year monthly gain of 2020, increasing by 20.0% over last December proving that REALTORS® are doing a great job at communicating the state of the market to potential sellers.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “Looking into 2021, despite job growth stalling, household spending sliding, and Covid-19 spreading, I believes that economically speaking, 2021 is shaping up well. Exceptionally expansive fiscal policy is and will be critical, as will the unprecedented promise of low rates for much longer from the Fed. We should see the economy take off once Sars-Cov-2 is defeated. I expect to see total 2021 GDP growth in the vicinity of 4.25%, after what will probably be a pretty weak 21Q1. Moreover, firms are adopting new technologies, which will boost productivity, keeping inflation away, while unemployment should end 2021 at about 5%.”
Additional central Indiana year-over year comparisons (December 2019 vs. December 2020 )
- Pending sales increased 28.4 percent to 2,438
- Current median sales price: $222,900
- Months supply of inventory: 0.7 months
- Total active listings decreased by 40.8 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.