The Central Indiana’s housing inventory still remains low just like the rest of the nation, even as we have buyers ready to pounce due to the still low interest rate. New Listings in central Indiana increased 3.8 percent to 3,968. Pending or sales in escrow are down by 7.3 % and the overall Inventory levels reduced by 6.0%. I am not surprised! Homeowners are still a little gushy when it comes to listing their home and due that we currently have an inventory of 4.7 months. That is down by 14.9%.

Right now between 7.3% and 8.5% of pending or in-escrow offers are not closing. The reason could be that the property is not passing inspections, buyer cannot get financed for some reason, the property does not appraise for the agreed purchase price, or the buyers are not willing to or not able to bring additional money to the table. When a property closes the price is on average about 92.4% of the original asking price.

In the nearby area of Hancock County, the number of properties available increased 22.1% over last year. Morgan County did not perform as well showing the largest decrease in available listings, indicating a 21.2% loss over last year. Hamilton County has seen the largest increase in home pricing over last year with 26.1% in comparison to Decatur County where home prices decreased over last year by 24%.

List of Counties from the highest % increase in available properties to the least:

County from highest % increase to the lowest when it comes to median sales price of home: