Indianapolis Real Estate Market Update as of January 1, 2016
For Real Estate Inquiries, Please Call, Your Journey Team:
Niki Fuller at 502-523-5554 / e: niki@YourJourneyTeam.com
It's the first week of January 2016 and it's that time of the month where we provide you a quick overview with the latest real estate news for Indianapolis. We might have mentioned about checking the real estate update time to time and the main point of it is for us to be aware of the current market rate for us to better plan our future and so we can take good care of our investment.
I strongly suggest that for us to effectively take care of our very expensive investment and know some ways we can improve it for the maximum profit in the future. A property is a really good investment and we all want a maximum profit in time. Plus, owning a home will give you some perks during the tax season.
I would like to encourage everyone to get your FREE HOME VALUATION with Your Journey Team for a more accurate Home Value Report in Indianapolis. The information I will be provided below may or may not be accurate, and you can compare this results from our last month's real estate market report.
Here is Indianapolis, IN Real Estate Market Update as of January 1, 2016
Price Trends:
The median single family home price as of January 01 2016 for Indianapolis, IN is $121,336.
Click here, to request a FREE HOME VALUE REPORT from our Team.
Market Conditions:
With a Market Action Index as of January 01 2016 at 30.92
What is a Market Index?
“The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall. - source:www.altosresearch.com
Sales and Demand Trends:
The average property in Indianapolis as of January 01 2016 has been on the market for about 124 days.
What is Sales and Demand Trends?
Simply put, “Days-on-Market,” tells you how long the active properties currently for sale, in an aggregate, have been on the market (a.k.a. “time on market”). Said otherwise, “of the active listings currently available for sale, how long have they been for sale?”- from altosresearch.com
Price per Square foot:
The median price per square foot for homes in Indianapolis as of January 01 2016 is about $66.
Homes for Sale:
There are about 4,314 properties on the market in Indianapolis as of January 01 2016.
What is Home for Sale?
“Inventory” is simply real estate lingo for “the number of homes for sale.” This stat shows you how much supply is available in the market you are researching. Inventory levels can ebb and flow frequently due to seasonal effects. There’s usually more inventory on the market in thespring-timeas the natural rate of real estate activity picks up during this time of year. Alternately, there’s generally less inventory in the Fall or Winter as real estate activity slows. Source: http://altosresearch.com
Try our FREE Home Valuation Today! Click Here, to REQUEST one.
No comments:
Post a Comment