INDIANA HOUSING MARKETS RALLY IN AUGUST DESPITE CONTINUED INVENTORY CONCERNS

(INDIANAPOLIS, IN) — August tends to mark the waning of housing activity ahead of the school year, but August 2017 bucked that trend even despite continued inventory concerns. This is according to the Indiana Real Estate Markets Report today released by the state’s REALTORS®.

Statewide year-over-year comparisons (August 2017 vs. August 2016) show:

• Closed home sales increased 3.7 percent to 8,839

• Median sales price increased 7.1 percent to $149,900

• Average sales price increased 5.6 percent to $178,988

• Percentage of original list price received increased 0.5 percent to 96.1 percent

• Pending home sales increased 2.2 percent to 8,077

• Number of new listings increased 3.5 percent to 10,764

• Inventory of homes for sale decreased 11.6 percent to 30,311

• Months supply of homes for sale decreased 16.3 percent to 4.1 months

“August showed us that demand for housing is still present across the state,” said Vallonia’s Cheryl Stuckwish, 2017 President of the Indiana Association of REALTORS®. “We expect it to continue given that unemployment and mortgage rates have both been stable. Every local market has its unique challenges, but the whole of residential real estate is in good shape.”

The Indiana Real Estate Markets Report obtains data from 11 of the state’s 12 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in central Indiana. To date, the report represents 98 percent of the housing market statewide and 91 of 92 Indiana counties.

For Housing Data specific to LaPorte County - CLICK HERE

SOURCE: INDIANA ASSOCIATION OF REALTORS