INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for December 2021 shows an increase in median sales price, pending sales, and new listings.
The median sales price rose 14.9 percent in December compared to December 2020, and 1.2 percent compared to November 2021.
Pending sales increased 10.4 percent in year over year comparison. New listings increased 2.3 percent in year over year comparison. Closed sales decreased 2.3 percent compared to last year.
“Closed sales remain strong in December 2021 with over 3,300 completed transactions. Pending sales increased year over year to 2,510 making last month the highest level of December pending sales in over a decade,” said Shelley Specchio, MIBOR CEO. “These strong numbers prove buyers are resilient in the pursuit of a new home and should look to a REALTOR® for guidance in competing in this housing market.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says,“In terms of the national housing market, it continues to go from strength to strength. While there were some hopes that available inventories would rise, that has so far not materialized, and year-over-year inventory levels continue to decline. As we enter 2022 with inventories at record seasonal lows, elevated household formation, and good job growth, all expectations are that 2022 will be yet another strong seller’s market, even in the face of slightly rising interest rates. In terms of prices, it appears that at the national level, no matter how measured, price appreciation appears to have peaked, probably 2-3 months ago, and going forward we should see price gains weaken from the upper teens like we saw for most of this year to the lower teens or upper single digits in 2022. Still, this remains a historically strong housing market.”
Additional central Indiana year-over year comparisons (December 2020 vs. December 2021)
- Pending sales increased 10.4 percent to 2,510
- Current median sales price: $255,000
- Months supply of inventory: 0.6 months
- Total active listings decreased by 13.8 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 9,000 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.