REALTORS®: 2017 ANOTHER STRONG YEAR FOR INDIANA HOUSING MARKETS
(INDIANAPOLIS, IN) — In 2017, 88,566 single-family homes were sold in Indiana, which translates into a 2.9 percent rise in contract signings over 2016 (2,523 more). This data is found within the Indiana Real Estate Markets Report today released by the state’s REALTORS®.
Complete statewide year-end comparisons (Q1-4 2017 vs. Q1-4 2016) show:
- Closed home sales increased 2.9 percent to 88,566
- Pending home sales increased 2.8 percent to 85,993
- Median sales price of homes increased 5.7 percent to $146,900
- Average sales price increased 5.4 percent to $174,966
- Percentage of original list price received increased 0.5 percent to 95.7 percent
- Number of new listings decreased 1.5 percent to 108,841
“High-energy activity – from buyers and sellers – is keeping up, and it is a welcome sight to see more and more Hoosiers become homeowners as the years go by,” said Vallonia’s Cheryl Stuckwish, 2017 President of the Indiana Association of Realtors®. “There’s only one downside: continually tight inventory conditions in many markets. Possibly because of squeezed supply, monthly closed sales dipped 1.3 percent for the first time in several months.
“That said, lots of would-be buyers are still waiting for their chance to make a move, and we view the first few months of 2018 as an opportune time to sell or close on a home,” Stuckwish noted.
The traditional statewide monthly review (December 2017 vs. December 2016) includes inventory information:
- Closed home sales decreased 1.3 percent to 6,585
- Pending home sales increased 4.6 percent to 4,789
- Median sales price of homes increased 6.2 percent to $146,500
- Average sales price of homes increased 4.9 percent to $175,503
- Percentage of original list price received increased 0.6 percent to 95.1 percent
- Number of new listings increased 4.2 percent to 4,885
- Inventory of homes for sale decreased 10.9 percent to 24,484 units
- Months supply of homes for sale decreased 13.2 percent to 3.3 months
The Indiana Real Estate Markets Report obtains data from 11 of the state’s 12 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in central Indiana. To date, the report represents 98 percent of the housing market statewide and 91 of 92 Indiana counties.