Hello Clients, Friends, Colleagues, and Family –
First of all, I wanted to thank everyone who has supported me and my business as we have been serving the Central Indiana market for over 5 years!! Hard to believe how quickly time flies. In addition – many of you ALSO deserve a huge “Thank You” for contributing to my LLS fundraising campaign this spring. The end results were amazing, my team raised over $180,000 in just ten weeks, and my fellow Indy area colleagues combined raised over 1.2 million to support the Leukemia & Lymphoma Society – absolutely amazing. Again, we could not have done it without you!!
I also want to draw your attention to the local market and share how active the current Real Estate environment is and specifically the continued increased interest in the Indianapolis Metro area. With the economy and the interest rates below 4.0 percent, it is a great time to consider and review how much equity you likely have in your home and whether this is a good time to sell and/or buy a home.
Here are the general local market stats that you may find interesting. This information is as of June 2019.
- # New Listings – Down 11.5 % for June, Down 9 % Year over Year
- Pending Sales – Up 3 % for June, Up 12.5% Year over Year
- Absorption Rate ( how long it would take to sell all inventory – in a balanced market 5-7 months) currently 1.6 months
So that spells a GREAT time to think about selling. Also, here are some additional facts you may find of interest:
- Median Sales Price up over 5% year over year
- Average Days On Market – at 39 days, continuing a steady decline (shorten the amount of time on market)
Again, I hope this kind of information is useful and enlightening. If you have an interest, I would be happy to spend time with you or any of your friends, family, or colleagues if they’d be interested in more information on the local residential market.
Posted on August 15, 2019 at 11:29 am by Tim Houterloot