Central Indiana finds itself in an extremely competitive spring market evidenced
by strong prices, multiple offers and fast selling times. The biggest struggle for
this positive market continues to be tight supply. While inventory levels did
creep up to 5.0 months in April and New Listings increased 1.2 percent,
potential buyers still outnumber available properties.

Median and Average Sales Prices continue to march higher – Median Sales
Price was 5.6 percent for the three months ending in April while Average Sales
Price increased 5.3 percent. April only followed a similar trend with Median
Sales Price increasing 4.6 percent and Average Sales Price 5.5 percent.

Closed Sales decreased for the quarter and month, although at a slower pace.
Closed Sales were down 9.6 for the three months ending in April compared to
the same time period in 2013 and dropped 8.3 percent in April compared to a
year ago. Pending Sales followed a similar pattern, down 8.6 percent for the
quarter and 6.8 percent in April alone.