We’ve heard reports recently from the Metropolitan Indianapolis Board of Realtors
(MIBOR) and the Indiana Association of
Realtors (IAR) that the 2012 Real Estate market was marked by improvements
and increases across the board.
Specifically MIBOR released a report stating that in 2012 the local real
estate market has turned
the corner. The number of closed
sales in central Indiana increased 18.5% when compared to the last year and the
number of pending sales increased by 14.9% for the year. This review also reported a stable increase
in median sales price at 3.6%. Similarly,
the Builders Association of Greater Indianapolis
(BAGI) recently released that homebuilders were issued 4,182
building permits, the most since 2008.
We also reviewed specific submarkets finding that existing
home sales increased in: Carmel, Fishers, Noblesville, Westfield, Zionsville,
and Washington Township. With an
increase of 49%, Westfield saw the largest percentage increase in number of
homes sold. All submarkets remained
steady in average price, with the largest increase in average sales price in
Zionsville at 5%. The highest price point reported in MIBOR was the sale of a
lakeside home in Syracuse, Indiana at $3,800,000 (pictured below). Closer to Indy, a home was sold in Carmel at
$2,650,000.
 |
| Lake Wawasee Home | Sales Price $3,800,000 |
What to do with all this data? Based on these stats, it is clear that the
local real estate market has reached consistency again in price and is on a
steady, sustainable path. If you’d like
more information regarding your specific neighborhood or are interested in
buying or selling a home, please contact us!
Or, click here
to find homes for sale in your area.
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