Indiana Housing Data - April 2019

Indiana Housing Data - April 2019

Indiana REALTORS® have closed the books on April, today releasing their summary of existing-home sales from the fourth month of 2019. Existing-homes include single-family, townhomes, condos, and co-ops.

The traditional statewide year-over-year comparisons – April 2019 vs. April 2018 – show:

• Closed home sales decreased 3.4 percent to 7,468
• Median sales price of homes increased 6.5 percent to $165,000
• Average sales price of homes increased 4.8 percent to $191,561
• Percent of original list price received at sale decreased 0.1 percent to 96.6 percent
• Pending home sales decreased 1.4 percent to 8,722
• New listings increased 1.5 percent to 10,682

“Prices have increased for 89 months in a row,” said 2019 IAR President Brian Thompson of Bloomington. “That’s because low inventory is making local markets super competitive. This is great news for sellers and communities. But it’s posing challenges for buyers. Those looking for a new home need to come to the process ready to make an offer, which means having their financing and budget in place.”

Statewide year-to-date comparisons – January to April 2019 vs. January to April 2018 – tell the same story. Closed home sales decreased 3.2 percent to 23,486. The median sales price of homes increased 6.7 percent to $160,000 while the average sales price increased 4.9 percent to $185,792.

“Realtors expect these conditions to continue until the pace of new home construction picks up,” continued Thompson. “Interest rates, employment, and wages remain key to healthy housing markets, as well.”

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