The Art of Distinction Blog by Encore Sotheby's International Realty

With the ever-changing real estate market, knowing how to digest the current market data can be a big undertaking. Each month, we report on the latest real estate stats in the communities we serve throughout Indiana, looking at the current number of active listings, how many homes sold, the average sales price they sold for, and how long it took to sell, or the average days on market. Whether you are a prospective buyer, seller, or simply seeking to stay well-informed about the market, we are here to be your trusted partners and help you make informed decisions for your specific real estate circumstances and goals. 

May Market Report Fast Facts: 

CENTRAL INDIANA

• Carmel saw a 29.4% decrease in average days on market from April to May, dropping to 24 average days on market, indicating strong competition among buyers.
• Fishers saw a 21.9% increase in number of sold transactions month over month, jumping to 167. 
• The Noblesville average sales price increased to $449,281, or 6.1%, compared to April.
• Westfield decreased in average sale price by 16.5%, equalling $453,554 in May, as compared to the prior month.
• Washington Township increased month over month for average days on market to 30 days, or 25.0% higher than reported in April.
• Downtown Indianapolis saw a 112.9% increase in average sales price to $472,881 from April.
• Zionsville increased by 36.1% in terms of number of sold transactions than the prior month.
• The $1M+ housing market in central Indiana decreased 36.9% for average days on market, resulting in 41 in May, versus 65 the month prior.

NORTHEAST INDIANA

• Fort Wayne saw a 6.7% jump in average sales price to $294,760 from the prior month.
• The $700,000+ housing market in Fort Wayne more than doubled in number of sold transactions, totaling 17.
• Kosciusko County saw a 21.3% increase in average sales price, jumping to $554,541 in May.
• Steuben County remained steady month over month in terms of closed transactions, increasing slightly to 8 transactions from 7 in April.

NORTHWEST INDIANA

• Valparaiso saw a 4.4% increase in average sale price, rising to $412,325.
• The lakefront beach area on Lake Michigan in Northwest Indiana, rose 5.6% month over month to $343,597. 

If you find yourself with any questions or are wanting to start a conversation with one of our agents, please do not hesitate to reach out.

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Encore Sotheby’s International Realty offers home sellers and buyers access to the most accomplished real estate professionals who assist in achieving their real estate goals. With offices located throughout Indiana, including Carmel, Indianapolis, Zionsville, Fort Wayne and Lake Wawasee they are Indiana real estate experts, backed by the world-class Sotheby’s International Realty brand. For all of your real estate needs, call 317.660.4444 or visit encoresothebysrealty.com.