All posts categorized under ‘Market Conditions’
If you watch the news channels or read the papers, you’d think we were on the verge of a total meltdown, right? A record heatwave turning half of the country into a rerun of the 1930′s dust bowl, the stock market in a free fall and the world economy collapsing with the US leading the way. No wonder the average person probably thinks the local real estate market must also be awful. Well, here is
Market activity fluctuates here more than some areas of the country because they are not affected by climate and seasonal influences quite as much. If you graphed activity here for a year, the curve normally has a bell-shaped appearance, with the greatest amount of activity in the summer, slower in spring and fall, and the lowest amount in the coldest winter months. To put market activity in a proper perspective, the best way is compare the same month with
Market activity for residential real estate last month in the nine-county, greater Indianapolis metropolitan area can be defined by two words…normalizing and strengthening. The number of sales compared to last year during the same month are down, but that’s no surprise as April last year saw the end of Buyer incentives from the federal government, so sales were way out of proportion as people scrambled to purchase homes before incentives ran out. Activity is normalizing
The residential real estate market in central Indiana seems like it has a split personality. On one hand, the total number of pending sales for March declined compared to this same period last year. On the other, prices for homes are rising generally and the absorption rate is improving as inventory tightens. So a market in decline or improving? Sometimes a one word description doesn’t tell the whole story.
To keep things in
Here’s a graphic representation of market activity in the nine county greater metropolitan Indianapolis area over the last 15 months, that compares the number of residential properties on the market to the number sold/closed and with a sale pending. There are a large number of homes on the market compared to the number that are actually being sold each month. What this tells me is there are a lot of
Search thousands of properties currently listed in central Indiana.
