The central Indiana real estate market in October is still experiencing a lack of available homes for sale (inventory). This lack of inventory plus high demand is contributing to rising home values (up 14.9% from last year) and lower days on the market (down 39% from this time last year). This is great for home values and makes Central Indiana a seller’s market.
What’s the market like right now?
The graphs below are for the entire MIBOR (Metropolitan Indianapolis Board of Realtors) service area and include single family homes & condominiums. These stats are for October 2020 and are pulled directly from the MIBOR BLC (Broker Listing Cooperative).
What’s is it like to sell a home right now?
Since central Indiana is experiencing a seller’s market, now could be a really good time to sell your home. Most homeowners are experiencing higher home prices and shorter days on the market before receiving and accepting offers on their home, sometimes less than 24 hours.
What’s is it like to buy a home right now?
Buying a home in central Indiana is a bit more frantic right now. There’s a lot of competition and available homes for sale are fewer than normal. But there are also some perks! Interest rates are at historic lows. Pair that with higher equity from the sale of your existing home, and you get huge buying power!
What is my local market like right now?
This report is for the central Indiana area. Local markets in places like Carmel, Fishers, Avon, Brownsburg, Indianapolis, etc., may vary a bit. If you would like to see more stats on your local area, get a free market report below.