February market numbers are starting to arrive. We’ve compiled and analyzed the data for your Indianapolis Market Report. Data in the report is based on the most recent information in the Regional Multiple Listing Service. Questions? Reach out to our staff at the Indianapolis branch, 317-622-0025
The median price of homes continues to rise on a national level, and are projected to increase by 4.8% nationally by January 2019. Indianapolis/Marion County is showing similar increases, and according to the Indiana Realtors Association, the median sales price for homes in February 2018 was $136,500, a 9.7% increase over February 2017. The market is strong, despite the recent rise in mortgage interest rates.
The Indianapolis market is showing a seller’s advantage, with inventory remaining low. This, of course, puts pricing pressure on the market, increasing home values year-over-year. According to the Indianapolis Area Association of Realtors, inventory across all state-wise MLS markets is at an all-time low of 3.1 months. However, buyers are still actively seeking and buying homes, in spite of the low-inventory, rising home costs, and rising interest rates.
U.S. foreclosure activity as of January 2018 was .05%. Indianapolis and Marion County, however, are slightly higher than the national average, at .06%. According to RealtyTrac, at the end of February, the number of properties receiving a foreclosure filing in Indianapolis was 27% lower than the previous month, and 31% lower than the same time last year. Foreclosure discounts are not significant for this region, in spite of the recent uptick in filings.
We specialize in the marketing and liquidation of REO assets, and we are ready for one or a list of yours. We have local experts on our team to move tasks through the process efficiently and on-time. Let’s talk today!