Home prices and market activity held strong during June according to themonthly Indiana Real Estate MarketsReport today released by the state’s REALTORS®.
Highlightsfrom the report include:
• The median sale price of homes statewide is in its seventh consecutivemonth of year-over-year increases and back to a level not seen since 2007.
• The average sale price of homes statewide is in its sixth consecutivemonth of year-over-year increases and also back to a level not seen since 2007.
• The number of closed home sales is in its 12th consecutivemonth of year-over-year increases with 2012 on track to surpass years in whicha federal home buyer tax credit was available.
“Forthe third month in a row, the statewide housing market has made very goodnews,” said Karl Berron, Chief Executive Officer of the Indiana Association ofREALTORS®. “Home prices and market activity were strong during June which is a resultof pent-up demand and continued low interest rates. It’s also because homesacross Indiana have historically held value, so real estate here has long beenviewed as a wise investment.
“Thedemand will only be sustained if Hoosiers are working and confident in theirlong-term employment,” continued Berron. “So we are listening for economicdevelopment plans and watching jobs numbers closely.”
Gettingback to the traditional year-over-year comparisons of the Indiana Real Estate Markets Report, statewide, when comparing June2012 to June 2011:
• The number of closed home sales increased 11 percent to 6,750;
• The median sale price of those homes increased 3.4 percent to $124,000;
• The average sale price increased 2.7 percent to $147,559;
• The number of pending home sales increased 9.7 percent to 6,026;
• The number of new listings decreased 2.1 percent to 10,598; and
• The percent of original list price received increased 1.2 percent to 91.8percent.
Anyonelooking to buy or invest should start with the sortable county tables of this reportand then talk to a local REALTOR® who can give the most insight into what’shappening in a neighborhood, city or school district.