Monday, March 25, 2013

Sellers Market - it's official

The IBJ (Indianapolis Business Journal) said it in big print today.

Homes in the most desirable neighorhoods are selling furiously, often in a matter of days.  Please note this is NOT all inclusive for all areas and neighborhoods.

The supply of homes has shrunk from 10 months (in 2009) to only 5 months across the Indy area. A dwindling number of owners putting homes up for sale is considered to be the catalyst.

We are hearing similar stories across the nation, with some really crazy stories on some of the Coastal states.

Across all price ranges throughout the 9 county doughnut (Marion County and all those encircling), inventory has fallen about 15%.  In SOME areas this has led to full price offers and even multiple offers.  I'm sure many of you are saying, "why didn't that happen to us".

This situation is helping to drive a gain in home values.  Nothing crazy like some of those infamous bubble areas - but within reason and manageability. 

We survived a few years of very sad real estate stories, but perhaps we are on the yellow brick road, and the Emerald City is in sight!  So keep tapping your heels and saying "there's no place like a home, there's no place like a home".

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