Bloomberg reports that for the first time in over three decades the size o1000x-1f the average new built home is shrinking. After climbing by half for three decades the square footage of the average house topped out at 2520 square feet in 2015. Through June of this year, the national average has been but 2420. Here in central Indiana the numbers are oh so similar. 2530 two years ago and 2426 in 2017.
If you’d like to take advantage of those numbers just let me know!
To catch other helpful blog posts, simply go to www.indyschoicerealestate.com. And please keep in mind… “I work harder to make good things happen!” -BobK
P.S. If you hear of friends or co-workers talking about buying or selling a house, please put them in touch with me. Thanks!
Indy sales have been running the most ever… 36000+ sold in past 12 months! They’ve been strongest over 175k.
New listings are flat year-over-year. A decade ago, there was half again as many homes on the market!
Inventory is down 20% from a year ago, and is tightening most under $175,000.
All that, along with uber low mortgage rates, has combined to push the median average house price to the highest point ever— 160+ during the past year. Up 7% from a year ago, and 25% from a decade ago.
Homes are selling on average for 4% less than their original list price.
Whether you’re buying or selling, be sure to call us, “We work harder to make good things happen!”
Indy Market Trends
- Spring buying season slowing into summer. = fewer bidding wars.
- Sales up 7% for the year; listings flat. = tighter inventory.
- Prices up 6% on the year.
- Mortgage rates near all time lows.
Whether you’re buying or selling, be sure to call me, “I work harder to make good things happen!” -Bob