Central Indiana housing data for April is promising as there is an increase in closed and pending sales. There is also a recorded surge in new listings, according to the Metropolitan Indianapolis Board of Realtors and the Indiana Association of Realtors.
“We were able to get picky,” said Jason Cooper, a homeowner in the Butler-Tarkington neighborhood in Indianapolis.
He said they received three offers after just eight showings. That is after they bought another home a few blocks away.
“I think I convinced this guy to go ahead and put in an offer,” said Jessica Cooper, Jason’s wife.
It was a quick turnaround that came as no surprise to people in the business of selling homes in the hot zip code. But, the highly competitive market is becoming less so across Central Indiana. Recent data reveals new listings in April jumped more than 9 percent.
“In April, we did see a surge in new homes on the market,” said Tracy Hutton, President of Century 21 Sheetz.
The sound of new construction is also back in another popular spot. A once stalled project on a rare, large open space in East Carmel is happening. It is called ‘Legacy,’ and the plan is for 124 homes to be built.
“Prices are still relatively low and interest rates, I can’t imagine they’ll get any lower than they are right now, and there is demand out there,” said Allan Goldsticker, Ryland Homes Indianapolis Division President.
Hutton also mentioned the continued movement in downtown Indianapolis over the last two years. Besides the addition of new apartment complexes being built, she said condos have been selling, and, more recently, at higher prices.
“The numbers of buyers in the market are helping sellers recover from the downturn in the market,” said Hutton about the overall picture.
Data also reveals the number of closed sales in Central Indiana have increased by more than 20 percent over the last three months as compared to the same three month period a year ago.
“A house a couple doors down just sold in a week also so we had seen the market moving in that direction,” said Jason Cooper.
The average sales price of homes increased by more than 2 percent to $156,694 in the three month comparison as well.