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July 2013 - Sales Activity Remain Strong!

by The Worrell Group

The Central Indiana housing market continues its strong showing with impressive Closed Sales activity and increasing Median and Average Sales Prices. Inventory hit a low in the mid five-month range earlier this year and has been consistent ever since. New listings continue to increase adding to the pool of inventory for eager buyers growing more accustomed to this fast-paced market.

New listings increased 15.8 percent in the three months ending in July. Closed Sales increased 27.5 percent during the same period. Prices increase at a positive, but manageable, pace. Median Sales Price increased 5.3 percent and Average Sales Price ticked up 4.3 percent for the three-month period. Inventory is 5.6 months.

 

 

The Real Estate Market is Sizzling This Summer!

by The Worrell Group

Central Indiana's housing market continues to sizzle this summer with robust closing activity and new listings entering the market.  All across the country - and here at home - interest rates and new construction activity have been in the spotlight, fueled by concerns over tapering Federal Reserve activity ongoing inventory constraints.  Numbers in Central Indiana point to more people entering the market with sellers benefiting from faster selling times and multiple offer scenarios in some areas.

New Listings in Central Indiana increased 12.6 percent in the three months ending in June and 13.1 percent in June alone.  Pending Sales were up 22.8 percent in the three month measure and 21.2 percent in June alone.  The Absorption rates improved as Months Supply of Inventory was down 29.5% to 5.6 months.

Prices continue to receive healthy lifts.  The Medium Sales Price increased 5.3 percent in June to $144,900 and increased 3.6 percent to $171,150 for the past 3 months.  Average sales prices performed similarly with an increase of 4.1 percent in June and 3.6 percent for the three months ending in June.  The current average sales price in the region is $176,373.

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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

Randy Worrell  -  RE/MAX Legends Group       317-819-3330  Direct       317-590-5709  Mobile