Speaking of a hot market…

INDIANA REALTORS®: MARCH ENDS FIRST QUARTER WITH IMPRESSIVE HOUSING NUMBERS

Low inventory demands that buyers be ready to move fast once the right home becomes available

(INDIANAPOLIS, IN) – Indiana REALTORS® today released data from March and the first quarter of 2015 showing that statewide, housing outperformed the same periods of 2014 in all measures except inventory. “We said last month that if pending sales are an indicator, the spring and summer buying season may get an early start in March. And it certainly did, ending the first quarter with impressive numbers compared to last year,” said Bruce Bright, 2015 President of the Indiana Association of REALTORS®. Here is the quarterly review from the latest Indiana Real Estate Markets Report –

• The number of closed home sales increased 9.5 percent to 14,404

• The median sale price of those homes increased 6.0 percent to $121,900

• The average price increased 6.1 percent to $147,135

• The percent of original list price received increased 1.9 percent to 93.2%

• The number of pending home sales increased 13.4 percent to 17,552

The traditional monthly review from the report includes inventory information –

• March home sales increased 12.9 percent to 5,953

• The median sale price of those homes increased 6.2 percent to $126,900

• The average price increased 7.3 percent to $152,456

• The percent of original list price received increased 2.3 percent to 93.7 percent

• The number of pending home sales increased 10.8 percent to 7,109

• The inventory of homes for sale decreased 4.0 percent to 37,066 • The number of new listings increased 3.7 percent to 10,717

“Low inventory means buyers should get ready to move fast if they find the right home. Get your financing plan in place now, before you begin a serious search,” continued Bright. “Though the uptick in listings may indicate that potential sellers are getting ready to meet buyer demand. Either way, pending sales tell us that housing will likely make for more good news next month.”

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