Here are a few of the highlights from our Indianapolis Real Estate Update for November 2017:
- Number of homes for sale in Indianapolis: -13%
- Number of closed home sales: +1.2%
- Percent of List Price Received: 96%
The story in the local real estate market has remained mostly the same for the past year or more. Lack of available homes for sale has driven market conditions such as higher ratios of sales price to list price and reduced time on the market. Inventory is especially constrained in the sub-$250,000 price points. Due to a lack of new construction in these price points, competition for existing homes as increased. If you currently own one of these homes and are looking to trade up into a larger home, this is an excellent time to sell. Even with constrained inventory, buyers should not be discouraged. Our team will keep you up to with the most current listings that match your criteria and will ensure that we structure an offer to maximize value for you while ensuring you win the deal.