June Real Estate Market Update for Indianapolis
FOR REAL ESTATE INQUIRIES, PLEASE CALL, YOUR JOURNEY TEAM:
NIKI FULLER AT 502-523-5554 / E: NIKI@YOURJOURNEYTEAM.COM
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We started the month of June with the real estate industry looking good for Indianapolis. But, before we end the month of June, we would like to see how things are going in the real estate industry, specifically for Indianapolis. You can compare this result with the previous information that we shared a few weeks back, CLICK HERE.
Also, we would like to remind everyone that the information below may or may not be accurate and it's always best to talk to or to request one from a realtor. You can also try our FREE HOME VALUE Report that we have on our website at www.YourJourneyTeam.com
Here is the June Real Estate Market Update for Indianapolis.
Price Trends:
Image source: altosresearch.com
The median single family home price as of June 17, 2016, for Indianapolis, IN is $111,865.
Market Condition:
Image source: altosresearch.com
With a Market Action Index as of June 17, 2016 at 42.15
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:
The average property in Indianapolis as of June 17, 2016, has been on the market for about 121 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: altosresearch.com
The median price per square foot for homes in Indianapolis as of June 17, 2016, is about $72.
Homes for Sale:
Image source: altosresearch.com
There are about 2,848 properties on the market in Indianapolis as of June 17, 2016.
What is Homes for Sale?
“Inventory” is simply real estate word 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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