INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for April 2021 shows an increase in new listings and closed sales.
The median sales price rose 13.1 percent in April compared to April 2020, and 4.9 percent compared to March 2021.
Pending sales increased 37.5 percent in year over year comparison. New listings increased 40.8 percent in year over year comparison, and increased 18.7 percent compared to March 2021. Closed sales increased 17.1 percent compared to last year and 7.4 percent compared to last month.
“The spring market is in full swing with closed sales increasing 17.1 percent to 3,033. Pending sales are also promising at an all-time April high of 3,784,” said Shelley Specchio, MIBOR CEO. “These numbers prove there is a strong demand for housing and set the stage for a strong spring and summer selling season.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “In a pleasant turnaround from late 2020 predictions, 21Q1 GDP came in at 6.4%, easily double what had been predicted as recently as late last year. Consumer spending, after a somewhat tepid February, roared back in March, buoyed by increasing vaccination rates, business re-openings, job growth, and the latest round of stimulus checks. Despite the surprisingly disappointing April job numbers, Dr. Eisenberg fully expects the economy to shrug this off and expects the pace of GDP growth to accelerate further over the next six months, with Q2 growth approaching 9% as households unleash their pent-up demand for a wide range of goods and services and spend some of their forced savings. As for the second half of 2021, GDP growth is likely to exceed 8% in 21Q3 and 6.5% in 21Q4.”
Additional central Indiana year-over year comparisons (April 2020 vs. April 2021 )
- Pending sales increased 37.5 percent to 3,784
- Current median sales price: $237,500
- Months supply of inventory: 0.6 months
- Total active listings decreased by 54.6 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.