INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for February 2021 shows an increase in closed sales.
The median sales price rose 18.9 percent in February compared to February 2020, and 5.5 percent compared to January 2021.
Pending sales decreased 11.8 percent in year over year comparison. New listings decreased 24.0 percent in year over year comparison, and decreased 8.9 percent compared to January 2021. Closed sales increased 6.1 percent compared to last year and 8.2 percent compared to last month.
“The Indianapolis February median sales price of $223,500 was at an all-time February high and rose 18.9% over last year,” said Shelley Specchio, MBOR CEO. “In addition, active inventory dropped to an all-time low of just 1,577 listings. REALTORS® agree the steep dip in new listings and continued high demand make this an optimal time to consider listing your home. Talk to a REALTOR® today to learn what your home is worth and the many options available if you want to sell.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “The economic forecast for 21Q1 continues to improve, with GDP likely to exceed 4.0%, resulting from strong retail sales, steadily rising vaccination rates, improving weather, and inventory rebuilding. The $1.9 trillion Biden stimulus will further boost the recovery, and as a result, economic growth should continue to improve and peak out in Q2 and Q3 at growth rates over 7%, with Q4 at a lower but still strong 4%. By mid-2021 GDP should be back to pre-pandemic levels, and CY2021 GDP should well exceed 5%, its best performance in almost 40 years.”
Additional central Indiana year-over year comparisons (February 2020 vs. February 2021 )
- Pending sales decreased 11.8 percent to 2,584
- Current median sales price: $223,500
- Months supply of inventory: 0.7 months
- Total active listings decreased by 59.8 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.