"In July, home prices fell substantially from the month before, with a median listing price of $279,850. The number of listings on the market grew 24%, which is a bigger increase than normal for this time of the year in Indianapolis, and homes are also selling slower than at the same time last year. Typically, home prices in Indianapolis tend to rise in July. But the most recent data shows that the price per square foot decreased by 1.1% compared with the month before."
"In July, there were 2,118 homes for sale in Indianapolis-24% more than the month before and 23% more than the same time last year. And there were 1,258 new listings, which is 2% more than the month before and 9% more than the same time last year. Nationally, active inventory rose by 15% in July, and the number of new listings fell by 6% over the same period."
"Homes in Indianapolis take an average of 42 days to sell, according to July figures, which is slower than usual for this time of the year. This is four days more than the previous month and four days more than the same month last year. For comparison, nationally homes spent an average of 51 days on the market in July."
Median listing price in Indianapolis was $279,850 in July, with monthly home prices falling and price per square foot decreasing 1.1% from the prior month. Inventory totaled 2,118 active listings, up 24% month-over-month and 23% year-over-year, while new listings numbered 1,258, up 2% month-over-month and 9% year-over-year. Nationally, home prices decreased 1.2%, active inventory rose 15%, and new listings fell 6%. Homes in Indianapolis averaged 42 days on market in July, four days slower than both the previous month and the same month last year, compared with a national average of 51 days.
Read at SFGATE
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