Central Indiana snaps 26-month streak of falling home sales

After more than two years of declining existing-home sales, central Indiana finally snapped its streak with a positive month in April.

Closed existing-home sales in the 16-county area rose from 2,497 in April 2023 to 2,630 in April 2024, an increase of of 5.3%, according to the latest data from the MIBOR Realtor Association.

The increase ended a string of 26th straight months in which closed sales had fallen on a year-over-year basis.

The median sale price for a home in the area rose 3.5%, to $300,000, in April.

The active inventory of homes rose from 2,837 in April 2023 to 3,016 last month, a 6.3% increase.

There were 3,211 new listings in April, up 7.9% from the previous month and 5.3% from the same month in 2023.

On average, sellers received 98.9% of their asking price last month, the same as a year ago. Homes spent an average of eight days on the market before being sold, down from six days in April 2023.

Marion County

In Marion County, closed sales in April rose 4.8% from a year ago, to 1,022. The median sales price in the county rose 6.4% from a year ago, to $250,000.

Other area counties

In Hamilton County, sales jumped 12.9 on a year-over basis, to 474. The median sales price in the county slipped 2%, to $441,067.

In Hendricks County, sales soared 19.2%, to 205, and the median sales price increased 5.7%, to $350,000.

In Johnson County, sales were up 7.1%, to 210, and the median sales price increased 3.4%, to $305,000.

Sales dropped 14.3% in Madison County, to 132. The median sales price fell 12.2%, to $179,950.

Sales in Boone County increased 5.4%, to 98, while the median price dropped 0.5%, to $365,000.

Hancock County sales dropped 9.8%, to 120. The median price dipped 1.4%, to $317,498.

Morgan County sales fell 13.2% to 66, and the median sales price rose 16.9%, to $307,500.

Shelby County saw a 2.5% increase in closed sales, to 41. The median price rose 18.1%, to $255,000.