How often do we see news like that lately? Not very often, but the Indianapolis market is showing definite signs of a very strong recovery. January showed improvement in all categories of measurement.
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| Source: Metropolitan Indianapolis Board of Realtors (MIBOR) |
Most dramatically,
closed sales were up a whopping 38.5% January 2012 over 2011. Last January, 455 homes were sold compared to 630 this January. Pending sales (homes in contract but not closed yet) were also very strong
—up 18.3%
which bodes well for a strong February.
The median price of a home was up 3.2% from $87,900 to $90,750 and for the 3 month period from December 2011 through December 2012, median prices are up 6.7% from the same 3 month period the previous year.
Perhaps the most dramatic and significant sign of recovery, is the number of months supply of inventory on the market. This is a measurement of how many months it will take to sell the current inventory at the current sales rate.
Number of months on market dropped to its lowest level in at least 3 years at 7.6 months. This is a very good sign that supply and demand is nearing market equilbrium.
Now is a great time to invest in Indianapolis real estate. See what the Indy market has to offer.
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Indianapolis home sales in Marion County remained strong in February, continuing a 3 month trend of year-on-year improvement. February closed sales were up a very healthy 18%. 623 homes were sold this year vs. 523 last year. Median price was also up 5.8% over last year, while inventory continued to decline. 
