Real Estate Market Report

Real Estate Market Report

INDIANA REALTORS®: MAY HOME SALES DOWN 25 PERCENT FROM LAST YEAR Year-To-Date Sales Down Less Than Five Percent; Average and Median Prices Increase for 102nd Consecutive Month

Indiana REALTORS® have closed the books on May, today releasing their summary of existing-home sales from the fifth month of 2020. Existing homes include single-family, townhomes, condos, and co-ops. Statewide, here’s how May 2020 compared to May 2019:

• Closed home sales decreased 25.8 percent to 6,702

• The median sales price of homes increased 7 percent to $184,000

• The average sales price of homes increased 4.9 percent to $211,636

• The percent of original list price received at sale decreased 0.3 percent to 96.8 percent

• Pending home sales decreased 1.9 percent to 9,211

• New listings decreased 18.5 percent to 9,662

“Even though we’ve been dealing with the coronavirus for months now, its impact on local housing markets is just now showing up in our monthly report in a significant manner. That’s because of the time it takes to close a sale. Indiana was under a stay-at-home order for much of April, so activity that would’ve ordinarily turned into a closing in May was delayed,” said Terre Haute’s Bernice Helman, 2020 President of the Indiana Association of REALTORS®. “It would be easy to focus on the year-over-year decrease in closing sales, but there’s plenty of good news in this report,” continued Helman. “Year-to-date, home sales are down less than five percent. Prices have held firm given the competition spurred by low inventory and the purchase power created by low interest rates. Pending sales point to a return of business. There’s a lot of opportunity for homeowners right now and Realtors have many tools to get our clients to the closing table safely.”

Readers of the monthly Indiana Real Estate Markets Report will note a large percentage decrease in two metrics – the inventory of homes for sale and the months supply of homes for sale – for the next calendar year. That’s because of a recent database cleanup that revealed a miscalculation of inventory. The miscalculation of inventory is mainly due to listing service mergers and category changes; these actions caused IAR to continue to count things like expired listings, sale-turned-rental properties, and foreclosures into the inventory of homes for sale.

Visit IndianaRealtors.com/Consumers/Housing-Data to view the full report, which includes county data in one-page and sortable table formats. The Indiana Association of REALTORS® partners with seven of the state’s eight listing services to publish housing data each month. Our reports represent 98 percent of the housing market statewide and 91 of 92 counties.

#RealEstate #Indiana #Housing #HomeSale #HomePurchase #HousingInventory

Hands Free Driving Law - Effective July 1, 2020 - Be ready!

Hands Free Driving Law - Effective July 1, 2020 - Be ready!

#distracteddriving #handsfree #indianadriving #indianalaw

Coronavirus Impact on Buying/Selling a Home

Coronavirus Impact on Buying/Selling a Home

Taken from Inside Indiana Business with Gerry Dick - Interview with Austin Stagman from Bedel  Financial Consulting

The recent COVID-19 pandemic has affected all aspects of the economy. Most of this impact can be seen on the news through stories about unemployment numbers, GDP estimates, and stock market volatility. But what impact has the pandemic had on residential real estate? 

If we look at the numbers, are fewer homes being sold? Are prices declining? Some of the results might surprise you. Let's get an update on the figures, both across the U.S. and closer to home in the Hoosier State, focusing on one popular housing metric: existing-home sales.

Closer to Home – Indiana Market is Better!

The trend for existing-home sales in Indiana has largely tracked that of the U.S. overall, though the performance has been superior. The most recent data released in April 2020 shows existing-home sales declined -10.4% month-over-month, versus -17.8% for the U.S.  Further, we have seen a -11.9% drop in sales in April 2020 from one year ago versus -17.2% for the U.S over the same time frame.  

Median home price growth in the Hoosier state is also outpacing the median U.S. numbers. The Indiana median existing-home price in April was up 9.1% from a year prior. Just like the U.S. figures, median home prices have also steadily increased since pre-pandemic. February's median price was $168,000, followed by $176,000 in March, and $180,000 in April.    

The current Indiana residential real estate market is summed up well by Bernice Helman, 2020 President of the Indiana Association of REALTORS, when she says, "We knew sales would wane in April due to the stay-at-home recommendations and we expect that to continue for the next couple months with fewer sellers listing homes." She continues, "Prices have held firm given the competition spurred by low inventory and the purchasing power created by low-interest rates."

Summary

While the number of existing-homes sold are clearly being impacted by the pandemic, the median price is actually getting a boost from the even lower mortgage rates.  Whether this trend continues is yet to be known as the May results are expected to be released on June 22.  

The complete article can be found HERE

Viewing / Showing Homes Procedures for current times

Viewing / Showing Homes Procedures for current times

#covid #realestate #homesale #homepurchase #indiana #corona

Bathroom Upgrades that have the highest ROI (Return on Investment)

Bathroom Upgrades that have the highest ROI (Return on Investment)

#realestate #indiana #bathroom #remodeling #homeownership

20 Charming Small Towns in Indiana - A Go To List

 

Franklin

Voted as the home of Indiana’s best main street, Franklin is the county seat of Johnson County (just south of Indianapolis) and is home to 25,000 Hoosiers.

Madison

Home to one of the country’s largest National Historic Landmark Districts, Madison finished second in our Best Main Street voting and is home to incredible shopping, history and much more. USA Today readers voted it among America’s best small town food scenes. Read More.

Angola

Named by USA Today as one of America’s Best Historic Small Towns, Angola is an incredible place full of history, shopping and fun. Visit nearby Pokagon State Park for year round adventure!

Corydon

Serving as the first capitol of Indiana until 1825, there is a lot of history in Corydon. There are many historic properties, caves, and landmarks easily found in the little town! Did you know that Corydon was the site of the only Civil War battle on Indiana soil?

Wabash

Known to be the first electrically-lighted city in the world, Wabash is the aptly named county seat of Wabash County. If you are looking for a fun date night or family experience, catch a show at the Honeywell Center and/or stay at the historic Charley Creek Inn!

Aurora

Aurora holds just under 4,000 citizens but is full of life. It’s home to a Top 10 Main Street and a Top 10 Brewery !

Auburn

Home to four epic car museums and a history of making amazing automobiles, Auburn draws car lovers from around the world.

Nashville

Nestled in the hills of Brown County, Nashville is a tiny town with amazing shopping, art history and lots of charm!

Greenfield

A vibrant historic district with a wide variety of shops, restaurants, and amazing architecture welcome you to Greenfield. You can visit the boyhood home and birthplace of James Whitcomb Riley and enjoy tons of family fun at Tuttle Orchards.

Huntingburg

Did you know that Hungtingburg is known as the “Hollywood of the Midwest?” A League of Their Own, Hard Rain, and Soul of the Game were all filmed in the 6,000-person town. In fact, you can watch a game at the at the stadium where A League of Their Own was filmed.

Greencastle

A trip to Greencastle is a must if you want to experience art, great food, and culture. It is also now home to one of the most spectacular murals in Indiana! Home to the University of Depauw, this small town is also home to a great dining scene.

Winona Lake

On the shores of a beautiful lake in Kosciusko County sits the small town of Winona Lake, a vibrant destination steeped in history. Listed on the National Register of Historic Places, this former summer retreat is now a shopping destination, with unique retail and service shops and a variety of restaurants and eateries.

Fortville

Nestled in Hancock County, Fortville is one small town with lots of charm, and an incredible dining scene. Among all of the great food is Taxman Brewing Co., voted as one of the best breweries in Indiana.

Goshen

This entrepreneurial hub along the Heritage Trail has a lot to be proud of. Whether you’re visiting for the weekend with friends or there with family, there is always something fun to do in Goshen. From one of America’s best diners, to authentic wood-fired fig pizza and incredible candies, Goshen is a foodie’s dream!

Shelbyville

Only 30 miles east of Indianapolis, Shelbyville is the perfect place for a quiet getaway. You will find over 4.5 miles of paved trails downtown, and you can try your luck at Indiana Grand Racing & Casino.

Vincennes

As Indiana’s first city, Vincennes is the perfect getaway for history enthusiasts. The hometown of legendary comedian Red Skelton features a museum in his honor. Visit the simply incredible George Rogers Clark National Memorial (It is the largest national monument outside of Washington, D.C.). And don’t miss the Indiana Military Museum, which features more US military artifacts than you can even imagine!

Richmond

Richmond might classify as a small town, but it is great for a family trip.  Thistlethwaite Falls is incredible, and the Starr-Gennett Walk of Fame pays tribute to legends of Jazz, Blues, Country and more, who once recorded in Richmond!

Danville

Anchored by the Mayberry Cafe, Danville features a vibrant downtown square with numerous shops and restaurants. The small town is home to the Mayberry in the Midwest festival each year, transforming the downtown square into the setting of the Andy Griffith Show. Visitor favorites include the Bread Basket Cafe & Bakery and Beasley’s Orchard.

Jasper

Since of the first settlers to Jasper came from the Black Forest area in Germany, there has been a strong admiration for Deutschland. You can get an authentic taste of Germany at the Schnitzelbank Restaurant. And, the Spirit of Jasper excursion train is a must ride!

Whiting

Just a stone’s throw away from Chicago, Whiting is a thriving community with unique attractions. The National Mascot Hall of Fame just opened last year!

#smalltownindiana #indiana #realestate #winona #goshen #richmond #whiting #fortville #jasper #vincennes #greensburg #indiana

Central Indiana Real Estate Market Update

Central Indiana Real Estate Market Update

#realestate #centralindiana #indianahousing #homebuying #homeselling #housingmarket #housing 

What Is Hoosier Hospitality?

What Is Hoosier Hospitality?

#hoosierhospitality #hoosier #realestate