The Indianapolis Real Estate Market is really heating up. Although the January Report released by MIBOR late last week shows that sales price were up and activity was down at the end of January – there is no doubt that February activity is REALLY heating up. Both seller and buyer activity has risen greatly in the past few weeks with new listings and showing appointments on the rise.

The Theme Continues For Now: Sales Prices Climb, Activity Slow
According to MIBOR’s Monthly Indicators Report for January, the trend that defined much of 2010 continues in the first month of 2011 with strong median and average sales prices coupled with decreased sales activity. For the three months ending in January, median and sale prices increased by more than four percent each to $119,500 and $147,966 respectively. Closed sales are down 17.5 percent, new listings are down 10.7 percent and overall months of inventory is down to eight months – a 9.2 percent decrease over the same three month period a year ago.
Source: MIBOR

Submitted by: Sarah Smith