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March brings robust sales activity in the Upper Price Ranges

by The Worrell Group

The Indianapolis real estate market completed the first quarter of 2010 showing continued vitality in home prices, thanks to the robust sales activity in the upper housing segments. Data and analysis provided by RE/MAX of Indiana show sales of single-family homes priced from $250,000 and above recorded double-digit gains, up 23.5 percent on a year-over-year basis (242 vs. 196). 

Summary

  • Sales of single-family homes totaled 1,997, up 6.7 percent from March 2009.
  • 5,041 homes came onto the market in March, rising 22 percent compared to March 2009 and a 44 percent surge from the previous month.
  • Month-end pending sales-those listings expected to close within the next 30 days- totaled 2,502, which is 10.3 percent higher than last year 
  • The month's inventory of single-family homes for March came in at 8.0 months, down from 8.4 months one year earlier. Sales of homes priced $500,000 and above jumped 44%. 

At $115,000, the median sales price for single-family homes rose for the fifth consecutive month, up 6.7 percent from March 2009 and up 8 percent from the previous month.

The average price of single-family homes in March was $140,104, an increase of 10 percent from one year earlier. That represents the fifth straight monthly jump in the average price. 

Monthly Market Stats Located In The "News" Tab

by The Worrell Group

On this website, make sure to click on the NEWS tab to view the Up-To-Date Monthly WATERFRONT stats for many areas around Central Indiana.  These stats include the Sales Stats back to 2007.

You will see that the Waterfront Stats are looking pretty good - compared to recent years.

If you are considering a Purchase OR Sale - please feel free to call or email me.  I have 25 years of sales experience here in our area.

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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