2012 Summary for Indianapolis Real Estate

For much of the national real estate market, 2012 was a year of discovery and recovery. The central Indiana real estate market was no different. According to the year-end market data released by MIBOR, Central Indiana has seen a significant (and much needed) increase in pending and closed sales.

Here’s a breakdown of the Indianapolis real estate market improvements in 2012:

  • There was a 27% increase in closed sales in the three months prior to 2012 year end.

  • There was a 13.4% increase in closed sales in the month of December alone.

  • Pending sales increased by 23% in the final 3 months of 2012.

  • There was a 14.9% increase in pending sales for the year 2012.

  • The median sales price for Indianapolis homes increase 3.6% from 2011.

  • Average sales of Indianapolis homes rose by 3.3% from 2011.

  • Inventory stabilized to 7.4 months for central Indiana homes.

These numbers don’t lie. In 2012 consumers appeared more confident, interest rates were favorable, prices remained stable, and inventory levels were at a desirable level. These factors created the perfect combination for a growing real estate market and we expect these trends to continue!

What does this mean for 2013? Well, although we can’t expect universal and quick recovery, economic growth and improving markets will support growth. 2013 will show steady growth in the Indianapolis housing market and will provide great opportunity for both buyers and sellers. We can't wait to have a great 2013 together!

 

Photo credit:  Danilo Rizzuti via Freedigitalphotos.net