MARCH ENDS FIRST QUARTER WITH IMPRESSIVE HOUSING NUMBERS


Sales Strengthen in Spite of Low Inventory Woes

(INDIANAPOLIS, IN) — The Indiana Real Estate Markets Report today released by the state’s REALTORS® shows that statewide, when comparing the first quarter of 2016 to the first quarter of 2015, the following occurred:

  • Closed home sales increased 9.3 percent to 15,745

  • Pending home sales increased 12.9 percent to 19,815

  • Median sales price increased 5.8 percent to $129,000

  • Average sales price increased 3.9 percent to $152,883

  • Number of new listings increased 0.9 percent to 26,272

  • Percentage of original list price received increased 0.9 percent to 94 percent

The traditional monthly review (March 2016 vs. March 2015) includes inventory information:

  • Closed home sales increased 11.1 percent to 6,615

  • Pending home sales increased 14.3 percent to 8,125

  • Median sales price increased 5.6 percent to $134,000

  • Average sales price increased 3.1 percent to $157,116

  • Number of new listings increased 2.3 percent to 10,962

  • Percentage of original list price received increased 1 percent to 94.6 percent

  • Inventory of homes for sale decreased 11.8 percent to 32,679

  • Months supply of homes for sale decreased 17.2 percent to 4.8 months

“New listings saw the usual seasonal increase this month, but strong sales kept inventory tight,” said Shelbyville’s Nancy Smith, 2016 President of the Indiana Association of REALTORS®. “After holding out, more would-be sellers are realizing now is an excellent time to get their homes on the market. Even more would-be buyers are moving quick if they find a home they love. With consumer confidence high and interest rates low, our members can expect a bustling summer season.”

SOURCE: INDIANA ASSOCIATION OF REALTORS

LAPORTE COUNTY MARKET REPORT - MARCH 2016

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