"In December, active listings in Indianapolis soared to 2,480, marking an impressive year-over-year increase of 23.9%. This surge outdid the national average, which experienced a 12.1% growth in active listings. The city welcomed 664 new homes to the market, a modest 1.8% increase compared to last year, while the national trend saw a decrease of 1.8%. This burgeoning inventory in Indianapolis hinted at an evolving market balance, enticing buyers with an array of choices."
"The median listing price for homes in Indianapolis was $257,500 in December, representing a 2.8% decrease from the same period last year. This decline was more pronounced than the national trend, where prices dipped by only 0.6%. Although the reduction in prices was slight, the share of homes with price reductions was 18.4%, slightly decreasing from last year."
"Homes in Indianapolis spent an average of 66 days on the market in December, a 3.9% increase year-over-year. Nationally, homes were on the market for 73 days, with a 5.0% increase. The extended time on market in Indianapolis, combined with rising inventory, signaled a cooling period in buyer activity, potentially granting buyers more negotiation power."
Active listings in Indianapolis reached 2,480 in December, a 23.9% year-over-year increase that exceeded the national 12.1% rise. The market added 664 new homes, up 1.8% from last year while national new listings fell 1.8%. The median listing price was $257,500, down 2.8% year-over-year compared with a 0.6% national decline. Eighteen point four percent of homes experienced price reductions, a slight decrease from the prior year and lower than the national increase. Homes averaged 66 days on market, a 3.9% increase versus 73 days nationally. Rising inventory and longer market time increased buyer negotiating leverage and intensified competition among sellers.
Read at SFGATE
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