The July housing market brought little change month over month in many communities throughout Indiana in terms of average sales price and number of transactions, whereas the average days on market (DOM) fluctuated depending on location and price point. Homes priced above $1M in central Indiana jumped 125% to 36 DOM in July from 16 days in June. Additionally, homes over $700,000 in Fort Wayne mimicked the trend, showing a 233% increase in DOM to 20 days in July from just 6 days in June.
While Carmel (-6.2%), Fishers (-1.2%), Noblesville (-1%) and Zionsville (-8.6%) saw slight decreases in average sales prices compared to the previous month, in contrast Westfield (+12.4%), Downtown Indianapolis (+7.9%) and Washington Township (+3.7%) each observed a bump in the average sales prices.
Inventory across the state varies by location. Specifically in the NE region of the state, Fort Wayne shows less than one month’s worth of inventory available while in the NW region of the state, Valparaiso shows just over one month’s worth of inventory. The average sales prices in the lakes regions, including NE Indiana Lakes ($486,029), Angola Lakes ($646,908) and NW Indiana Lakefront Beach ($330,864) regions show a variety of price points to suit buyers in search of a waterfront retreat.
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