INDIANAPOLIS — New housing data issued by the MIBOR REALTOR® Association (MIBOR) for January 2022 shows an increase in median sales price, pending sales, and new listings.
The median sales price rose 16.9 percent in January compared to January 2021, and dropped 3.5 percent compared to December 2021.
Pending sales increased 2.9 percent in year over year comparison. New listings increased 1.7 percent in year over year comparison. Closed sales increased 3.8 percent compared to last year.
“Indianapolis kicked off January 2022 with a record January high median sale price of $246,000, a 16.9% gain over last January,” said Shelley Speccio, MIBOR CEO. “This, paired with the minimal increase to new listings and the 21.6 decrease in days on market prove that this market is even tighter than it was last year. It’s a competitive market for any buyer and having a REALOR® by your side is essential.”
Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, "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, despite rising interest rates. Regarding prices, it appears that at the national level, price appreciation peaked several months ago and going forward we should see price gains weaken from the upper teens to the low teens or upper single digits. Importantly, there are no indications that we are seeing anything like what we saw in 2005/2006 in the buildup to the housing bust of 2007/2008. Dodd-Frank has done much to guarantee that home buyers are truly qualified, what was then a housing glut is now a housing shortage, and interest rates, even as they rise in 2022, will remain at historical lows. This continues to be a strong housing market."
Additional central Indiana year-over year comparisons (January 2021 vs. January 2022)
- Pending sales increased 2.9 percent to 2,849
- Current median sales price: $246,000
- Months supply of inventory: 0.8 months
- Total active listings decreased by 11.1 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.