Indianapolis Broker Brian C. Candlish - McNulty Real Estate Services, Inc.

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Indianapolis Broker Brian C. Candlish - McNulty Real Estate Services, Inc.

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01/13/2025

DECEMBER 2024 MARKET REPORT

Housing data released by the MIBOR BLC® comparing December 2023 to December 2024 shows:

An increase in Median Sales Price of 8.1% at $300,540
An increase in Closed Sales of 8.1% to 2,261
An increase in New Listings of 0.1% to 1,590
The central Indiana housing market ended 2024 with the median sales price of single-family homes up 8.1% over last December to $300,540. In the MIBOR BLC® Listing Service area 15 out of 17 counties listed positive price changes from a year ago. Annually, the median sales price rose to $301,475, representing a 4.0% increase over 2023.

“December closed out the year strong with the fourth consecutive month of positive year-over-year sales,” says MIBOR CEO Shelley Specchio. “We are encouraged to see closed sales and pending sales continue to show resilience, even in the face of higher interest rates and expect to see continued improvements in 2025. As consumers continue to acclimate to a higher rate environment, buyers and sellers are beginning to adapt to this reality and are finding more commonality to get to the closing table.”

12/18/2024

NOVEMBER 2024 MARKET REPORT

Housing data released by the MIBOR BLC® comparing November 2023 to November 2024 shows:

An increase in Median Sales Price of 3.5% at $300,000
A decrease in Closed Sales of 0.3% to 2,232
An increase in New Listings of 1.4% to 2,272
In November 2024, the median sales price for a single-family home in central Indiana rose 3.5% over last year to $300,000 but was unchanged from October. This month marks three consecutive months with a median sales price of $300,000. In the MIBOR BLC® Listing Service area, 12 of 17 counties saw a year-over-year increase in median sales price, including Bartholomew, Hamilton, Johnson, and Marion counties.

“As we reflect on 2024, the latter half of the year stands out as a likely turning point for the housing market,” says MIBOR CEO Shelley Specchio. “Pending sales have increased the last four months, inventory continues to slowly but steadily grow giving consumers more choices, and price appreciation remains positive while growing at a steadier pace. If interest rates can find a more predictable path closer to 6% additional demand should come to market.”

11/11/2024

Housing data released by the MIBOR BLC® comparing October 2023 to October 2024 shows:

An increase in Median Sales Price of 3.5% to $300,000

An increase in Closed Sales of 9.1% to 2,535

An increase in New Listings of 9.1% to 3,171

In October 2024, the median sales price for a single-family home in Central Indiana rose 3.5% over last year to $300,000 but was unchanged from September. In the MIBOR BLC® Listing Service area, 10 of 17 counties saw a year-over-year increase in median sales price, including Bartholomew, Hancock, Hendricks, and Marion counties.

“The housing market in Central Indiana continues to respond well to lower interest rates,” says MIBOR CEO Shelley Specchio. “In addition to stronger closed sales, another sign of this strength can be seen in pending sales, as they continued to increase from September to October. Normally, we would see a seasonal decline during this period. Inventory levels continue to provide consumers with more options and although interest rates are sitting higher than September levels, they are roughly one percentage point lower than the same period last year.”

11/09/2024

"Why am I being asked to sign a written buyer agreement."

10/23/2024

Statewide closings (6,705) finished 1% ahead of 2023 in September, while new pending sales (6,657) were up 6% year-over-year; sales fell from August, but within post-Labor Day expectations.

Inventory continued to increase: With 14,763 average daily listings, September was the sixth consecutive month with at least 20% more homes for sale on a given day than 2023.

Homebuyers leveraged higher supply into lower accepted offers: Indiana's median sale price dropped to $260,000 in September, representing 96% of the original list price (versus 97% last year).

New listings (8,271) dropped 3% behind September 2023 (but stayed 3% ahead of 2023 year-to-date).

Homes took 15 days to go under contract in September (up from 10 days in 2023) and more sellers adjusted original prices – 47% of available homes in September had a price drop since listing.

Through the first two weeks in October, price drops have continued to rise (48%) along with days on market (20 days), even though pending sales activity has been solid (see below).

Address

930 E 66th Street
Indianapolis, IN
46220

Telephone

+13175070688

Website

http://www.mcnultyre.com/

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