Real Estate Monthly Report as of March 2016 for Indianapolis, IN
For Real Estate Inquiries, Please Call, Your Journey Team:
Niki Fuller at 502-523-5554 / e: niki@YourJourneyTeam.com
It may be mid- March of 2016 but it's not too late to see how the real estate market is fairing. It's always best to check time to time especially if you have any plans to sell or buy a property this month.
I would like to remind everyone that the report I will be providing you may or may not be accurate and it is best to contact our team for a FREE HOME VALUE REPORT or Request for a FREE CUSTOM MARKET ANALYSIS for a more accurate information.
You can reach us at 502-523-5554 or send us an e-mail at Niki@YourJourneyTeam.com. We are always happy to help with anything that you need.
Here is the Real Estate Monthly Report as of March 2016 for Indianapolis, IN.
Price Trends:
Image source: http://altosresearch.com/
The median single family home price as of March 11, 2016, for Indianapolis, IN is $117,667.
Click here, to request a FREE HOME VALUE Report with YOUR JOURNEY TEAM.
Market Condition:
With a Market Action Index as of March 11, 2016, at 36.26.
What is a Market Action 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.” Read more at: altosresearch.com.
Sales and Demand Trends:
Image source: http://altosresearch.com/
The average property in Indianapolis as of March 11, 2016, has been on the market for about 136 days.
What is Sales and Demand Trend?
Simply put, “Days-on-Market,” tells you how long the active properties currently for sale, in the 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?” - source:www.altosresearch.com
Price per square foot:
Image source: http://altosresearch.com/
The median price per square foot for homes in Indianapolis as of March 11, 2016, is about $65.
Home for Sale:
Image source: http://altosresearch.com/
There are about 3,517 properties on the market in Indianapolis as of March 11, 2016.
What is Homes 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. Read more at http://altosresearch.com.
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