Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAfter experiencing a rare month of rising transactions in July, central Indiana saw another down month for existing-home sales in August, according to the latest data from the MIBOR Realtor Association.
Closed existing-home sales in the 16-county area fell 6.8%, from 2,853 in August 2023 to 2,659 in August 2024. That followed an increase of 3.4% in July—only the second month out of the last 30 in which closed sales had increased on a year-over-year basis.
The median sale price for a home in the area rose 3.3% in August, to $310,000, on a year-over-year basis.
The active inventory of homes rose from 4,052 in August 2023 to 4,886 last month, a 20.6% increase.
There were 3,383 new listings in August, up 1.5% from the same month in 2023.
On average, sellers received 98.3% of their asking price last month, down from 98.9% a year ago. Homes spent an average of 33 days on the market before being sold, up from 29 days in August 2023.
Marion County
In Marion County, closed sales in August fell 7% from a year ago, to 966. The median sales price in the county rose 4.1% from a year ago, to $255,000.
Other area counties
In Hamilton County, sales were down 7% on a year-over basis, to 479. The median sales price in the county rose 3.3%, to $465,000.
In Hendricks County, sales increased 3.1%, to 235, and the median sales price rose 9.4%, to $361,000.
In Johnson County, sales were down 7%, to 199, and the median sales price ticked up 1.7%, to $322,500.
Sales increased 0.7% in Madison County, to 146. The median sales price sank 8.9%, to $205,000.
Sales in Boone County slid 23.3%, to 112, while the median price improved 6.5%, to $410,000.
Hancock County sales dropped 23.3%, to 112. The median price was up 9.2%, to $349,950.
Morgan County sales decreased 11.3%, to 71, and the median sales price jumped 4.8%, to $275,000.
Shelby County saw a 10.5% risein closed sales, to 42. The median price rose 2.8%, to $226,500.
Statewide sales
The state saw a 6% decrease in closed sales on a year-over-year basis, with sales falling to 7,060 last month, according the Indiana Association of Realtors.
Statewide, the median sale price rose to $265,000 in August, up 4% from a year ago.
Please enable JavaScript to view this content.