October Housing Data from IAR.
Statewide year-over-year comparisons (October 2018 vs. October 2017) of existing-home sales—single-family, townhomes, condos, and co-ops included—show:
- Median sales price increased 7.1 percent to $158,000
- Average sales price increased 5.1 percent to $183,712
- Percent of original list price received increased 0.4 percent to 95.9 percent
- Closed sales increased 0.8 percent to 7,705
- Pending sales increased 4.5 percent to 7,222
- New listings increased 8.5 percent to 9,268
- Inventory decreased 5.9 percent to 27,129 homes for sale
- Months’ supply decreased 7.7 percent to 3.6 months
“Conditions are holding across the state with low inventory and high demand as the primary drivers,” said 2018 Indiana Association of REALTORS® President John De Souza of South Bend. “The 4.5 percent increase in pending home sales points to a strong November, too.
“It’s natural for local housing markets to slow down in the winter months,” continued De Souza. “But for those serious about buying or selling, there’s great opportunity when it gets cold because consumers are typically more motivated.”
To view individual county data click here.