Indianapolis Real Estate Market Report as of May 2016
For Real Estate Inquiries, Please Call, Your Journey Team:
Niki Fuller at 502-523-5554 / e: niki@YourJourneyTeam.com
Image source: www.insideindianabusiness.com
It's the first week of May 2016, and time to have a good look at how the real estate is doing for the start of the month. You can compare April 2016 real estate market report here.
The information I'm about to provide may or may not be accurate, and it's best to talk to us, or use our FREE HOME VALUE Tool on our website, or you can request a custom report from our team for a more accurate information.
You can also reach us at 502-523-5554 or send us an email at Niki@YourJourneyTeam.com. We'd be happy to help you in any way we can and answer any real estate concerns or questions that you may have.
Here is our Indianapolis Real Estate Market Report as of May 2016.
Price Trends:
Image source: http://altosresearch.com
The median single family home price as of April 29, 2016, for Indianapolis, IN is $110,440.
Request for a FREE HOME VALUE REPORT with Your Journey Team.
Market Conditions:
Image source: http://altosresearch.com
With a Market Action Index as of April 29, 2016, at 42.16
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 April 29, 2016, has been on the market for about 132 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
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