Prices Increase Year-Over-Year For 86th Consecutive Month
(INDIANAPOLIS, IN) – Indiana REALTORS® have closed the books on January, today releasing their summary of existing-home sales from the first month of 2019. Existing-homes include single-family, townhomes, condos, and co-ops.
January 2019 is the 86th month in a row to see a year-over-year price increase. Statewide, the median sales price of homes is $151,200, a 4.3 percent increase when compared to January 2018.
The average sales price of homes is $179,638, a 4.6 percent increase from the same month last year.
“Prices are still on the rise, which is great news for homeowners and communities,” said 2019 IAR President Brian Thompson of Bloomington. “Realtors expect market conditions to continue until the pace of new home construction picks up and satisfies the high demand of Hoosiers. Robust employment and wage growth remain key to healthy housing markets, as well.”
Other statewide year-over-year comparisons show:
• Percent of original list price received at sale decreased 0.4 percent to 94.6 percent
• Closed home sales decreased 8.6 percent to 4,178
• Pending home sales increased 8.2 percent to 5,837
• New listings increased 3.9 percent to 6,677
• Inventory of homes for sale decreased 3.7 percent to 23,130
• Months supply of homes for sale decreased 6.1 percent to 3.1 months
Visit indianarealtors.com/consumers/housing-data/ to view the full Indiana Real Estate Markets Report, which also includes county-level data.
The Indiana Real Estate Markets Report obtains data from 11 of the state’s 12 listing services. The monthly report represents 98 percent of the housing market statewide and 91 of 92 Indiana counties.
IAR represents just over 17,500 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange, or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of the United States’ largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.
Source: Indiana Association of REALTORS®
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