Home Sales Up But Inventory Low March 23 2016

Home Sales Up But Inventory Low March 23 2016

          (from the Indiana Association of Realtors)

Statewide closed and pending sales continued to pick up during February, while available inventory dipped by 10.6% to the lowest point in recent years, according to the Indiana Real Estate Markets Report just released.

Statewide year-over-year comparisons (February 2016 vs. 2015) show:

Pending home sales increased 16.4%.

Closed home sales increased 9.9%.

Median sale price increased 4.2% to $125,000.

Average sales price increased 3.1% to $148,978.

Number of new listings increased 9.5% to 8,244

Percentage of original list price received increased 1.1% to 93.8%.

   (Here's the biggie)

Inventory of homes for sale DECREASED 10.6% to 32,353.

"Strong buyer demand and a limited supply of homes for sale keep pushing prices up, so some homeowners might decide to sell.  If they do, that would be good, because it would help relieve the inventory shortage.  We're optimistic about the increase heading into spring," says Nancy Smith, 2016 president of the Indiana Association of Realtors.


Bob Armstrong Headshot
Phone: 502-648-1918
Dated: March 23rd 2016
Views: 1,692
About Bob: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Open House Tips - What do you need to know in?
February Housing Data - New housing data released this
8 Tasks To Add To Your Move In List - 8 task that need to be added to
Love At First Sight - How do you know when a house is

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty Indiana
7708 Frank Ott Rd
Georgetown, IN