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3rd Quarter Market Update

by The Worrell Group

As part of our ongoing research, we came upon some interesting statistics this month. While waterfront homes have always sold for more money, homes on water are selling at a much faster rate than homes not on water in the same neighborhood. 

Another interesting statistic is the number of waterfront properties selling for full list price or very close to it. This has not been the case in recent years which is very exciting news.

While it is difficult to tell which of these factors causes the other, one thing is clear. Waterfront buyers are very active again.

If the supply continues to remain stable, short term appreciation will be higher than in recent years. If those sellers who have been waiting for the right conditions take advantage of this opportunity, we will see a higher number of waterfront properties hit the market. This will obviously cause a market adjustment and create better buyer conditions.

Taking into account the current market data, values are heading back up. Steady price increases are good for both buyers and sellers. Sellers will see a better return on their initial investment and buyers are much more comfortable knowing their investment is more secure.

September Data Show Sales Breakthrough

by The Worrell Group

Housing data released by MIBOR today shows gains in all monthly metrics with closed sales increasing by 13.1 percent in September – the first monthly gain of 2014. The one month increase did not erase the negative slide in closed sales but helped to close the gap. Closed sales for the three months ending in September was down just 0.5 percent. Sales prices remain strong. The Median Sales Price increased 2.9 percent to $144,000 in the quarter ending in September compared to the same quarter last year and grew 5.1 percent in September only data to $141,900 compared to September 2014.


New listings rose 8.4 percent for the month and 1.2 percent for the quarter. Pending sales increased by 13.6 percent in September and 2.3 percent for the three months ending in September. Months supply of inventory rose 3.3 percent to 5.7 months.

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The Randy Worrell Team
RE/MAX Legends Group
5645 Castle Creek Pkwy N
Indianapolis IN 46250
Direct: 317-819-3330
Voicemail: 317-644-0086

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