Statewide, January’s market activity and home prices better than last year.
(INDIANAPOLIS, IN) – The Indiana Real Estate Markets Report today released by the state’s REALTORS® shows that statewide, when comparing January 2013 to January 2012, the following occurred:
• The number of closed home sales increased 22.9 percent to 4,222,
• The median sale price of those homes increased 5.9 percent to $108,000,
• The average sale price increased 5.7 percent to $129,409,
• The percent or original list price received increased 1.8 percent to 89.9 percent,
• The number of pending home sales increased 21.2 percent to 5,140, and
• The number of new listings decreased 0.5 percent to 8,717.
The good news made last month is part of a larger trend; January 2013 marked the following consecutive year-over-year gains in home prices and market activity:
• The number of closed home sales has increased year-over-year for 19 consecutive months,
• The median sale price of homes has increased for 14 consecutive months,
• The average sale price has increased for 13 consecutive months,
• Sellers received a greater share of their original list price for the 11th consecutive month, and
• The number of pending home sales has increased for 16 consecutive months.
“2012 started strong and ended strong, beating the two prior years with regard to market activity and home prices,” said Kevin Kirkpatrick, 2013 President of the Indiana Association of REALTORS® and co-owner of Prudential Indiana Realty Group. “2013 is off to an even better start than last year, making members very optimistic for the year ahead.
“Buyer demand is high right now and while interest rates are slowly moving higher, the affordability picture remains extremely attractive in Indiana,” continued Kirkpatrick. “Real employment and wage growth will be the fuel to the residential real estate fire.”
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
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