...or possibly out! MIBOR released Q1-2013 data this week and just as we thought things are hopping like we haven't seen since 2008! The quick facts for the entire area for March show an increase of 23.4% quarter-over-quarter in number of closed sales and a 2.1% increase in median sales price. Home inventory is down 15.8% over Q1-2012.
More specifically, Hamilton County you are seeing a 27.5% increase in sales with a decrease of 8.6% in new listings for the month of March. Can anyone say low inventory?? Average sales price through the quarter has remained steady with a 1.1% increase over 2012.
The big news for Marion County is an increase in sales price of more than 7% with a 10.6% increase in sales and a 5.3% decrease in new listings. Keep in mind, this is Marion County as a whole and as any buyer looking in Meridian-Kessler, Buter-Tarkington or the Broad Ripple area can attest, homes are flying off the shelf! If you have something to list in that area, you need to get it on the market while the market is still in overdrive.
Hendricks County is not quite as hot but still recovering nicely with sales up 21.2% in March. New listings are down 15.8% but we are seeing a nice rebound in pricing with a 5.5% increase in median sales price. Hendricks County homeowners, now may be the prime time to get that home on the market. With interest rates in the 3's and 4's, and home prices going up, there could never been a better time to jump in the market.
Looking for more specific data? Just contact me and I will be happy to set you up.