Photo: Airplane Journal (flickr)
Home sales are continuing on an upward trend in Central Indiana. The Metro Indianapolis Board of Realtors says home sales in Marion County jumped 6.2 percent in January over January 2012.
MIBOR Spokesperson Claire Belby says the median sales price in Marion County rose 4.6 percent to $100,375 during that period. She adds that for January 2013 alone, the median sales price rose 10.2 percent. Belby says Hendricks County home sales jumped by a whopping 50 percent in January over January of last year.
“When you get down into the county level you have a smaller number of properties to look at so you can get wide swings, but 50 percent is alot,” she says. “So, it‘s hard to tell. There might have been a particular development that closed, but a lot of activity in Hendricks County. It‘s really promising.”
However, Brown County saw homes sales drop significantly during the same period.
“Brown County didn‘t have as many closed sales. In fact the percentage was down by 30-percent. Now that‘s a very few number of properties so we shouldn‘t be too alarmed by the percentage, but it did not increase in closed sales in January,” she says
For the most part, Belby says consumers remain confident about the market. She says inventory is shrinking and buyers are now seeking more options. This time last year it was more of a buyer‘s market. However, Belby says the market is shifting more toward a seller‘s market although it is pretty balanced right now.
Belby says the region has about five months of inventory which is fairly indicative of a market that favors both buyers and sellers. MIBOR tracks sales and other activity across 13 counties.