As home prices continue to increase and stabilize throughout Central Indiana, buyers and sellers are looking at the market more positively. In October, existing homes sales rose to 13.2 percent from October of last year. In the thirteen counties that surround the Indianapolis metro, Hendricks county saw the largest jump in sales. Boone county was second, followed by Hancock county, Hamilton county, and Marion county.
The great news is that last month represented the fourth straight month in growing sales numbers. Additionally, the median house price in the Indianapolis metro was up by 3.2 percent from the prior year.
Whether home sales and values in the Indianapolis area will continue to grow will depend largely on Indy's employment market. Luckily, Indianapolis is one of America's most affordable cities. It's affordability coupled with a lower unemployment makes Indy a great place to live.
According to CNBC, Indy has moved from a manufacturing-based economy to a more diverse one that includes health care, retail, and social services. CNBC says Indy has momentum and growth will be expected in the life sciences and logistics sector.