Buyers of existing single-family homes in the 16-county area swooped up available properties at a rapid pace in April, often showing a willingness to pay more than the asking price to secure a purchase.
With the dramatic decrease in available listings, the median price for homes sold in the 16-county area in March rose 8.4%, to $226,500, compared with $208,865 in March 2020.
The median price for homes sold in the 16-county area in February rose 18.9%, to $223,500, compared with $188,500 in February 2020.
Existing single-family homes in central Indiana remained in heavy demand as 2021 got under way, despite the ongoing escalation of prices and shrinking supply of choices.
Central Indiana homebuilders saw another onslaught of interest from buyers in December, adding to their busiest year since before the Great Recession.
Completed home sales in the 16-county area rose in December for the sixth month in a row on a year-over-year basis. Area sales were up 6.4% in 2020 and the median price for a home rose 14.1%.
A great view of the creek, mahogany hardwood floors and beautiful woodworking throughout sets this home built in 1985 apart from the rest.
Completed sales in the 16-county area increased 20.6% in November on a year-over-year basis, according to the latest data from the MIBOR Realtor Association.
The cozy, 4-bedroom house with midcentury modern flair is listed for $650,000 by Kelly Huff of F.C. Tucker Co.-Keystone at the Crossing.
Exquisite indoor and outdoor features mark this home listed by Jeff Kucic of Engel & Volkers for nearly $1.2 million.
The median home price in the area reached $221,000, up 15.1% from a year ago when the median price was $192,000.
The house—which is on the market for $749,900, listed by Matt McLaughlin at F.C. Tucker Company-Meridian North—features incredible formal gardens and paths with a large koi pond and waterfall.
Wood is the star in this $945,000, four-bedroom home on a 2-1/2 acre lot in Zionsville. The wooden beams, the paneling, the kitchen cabinets, the floors and the bar in the basement.
The condo at 429 N. Pennsylvania St. is listed by Derek Gutting with Keller Williams Indianapolis Metro North for $1.695 million.
“Indianapolis is one of the fastest-selling metros in the country,” said Chris Glynn, a senior economist at Zillow, a real estate website and research firm. “The typical home in Indianapolis is selling in five days or less.”
The monthly sales increase was the third in a row after a three-month streak of declining sales in the market brought on by the pandemic.
Permit filings are up 12% so far this year compared with the first eight months of 2019, despite the pandemic.
Sales of existing single-family homes rose in central Indiana in August despite a huge decline in available houses and another record in prices.
A shortage of moderately priced single-family homes and pent-up demand stemming from the COVID-19 lockdown this spring have caused home prices to rocket higher.
Active listings have continued to fall throughout 2020, as sellers resist having potential buyers in their homes during a pandemic.
