Spring 2013 ended up on a high note for Central Indiana’s Real Estate market. In May 2013 vs. May 2012 1362 more homes were sold and the median and average sale prices of those homes are also up.

Today’s Indiana Real Estate Markets Report gives us the following statistics for May 2013 vs. May2012:

• Number of closed home sales increased 21 percent to 7,840,

• Median sale price of those homes increased 4.5 percent to $127,500,

• Average sale price increased 4.2 percent to $150,543,

• Percent or original list price received increased 1.2 percent to 92.8 percent,

• Number of pending home sales increased 18.9 percent to 7,625, and

• Number of new listings increased 11 percent to 12,556.

 

Overall:

• We saw an increase of closed home sales year-over-year for 23 consecutive months,

• Median sale price of homes has increased for 18 consecutive months,

• Average sale price has increased for 17 consecutive months,

• Sellers received a greater share of their original list price for the 15th consecutive month, and

• Number of pending home sales has increased for 20 consecutive months.

 

Indiana is not different than many other states in this Country. We all still very concerned about the low housing inventory. With raising home prices we should see an increase in the amount of homes available for sale. There is still the concern of the amount of bank owned homes that will be release into the market and the raising interest rate.