Real Estate Prices Dip in County

Good news for Hamilton County home buyers, prices dipped slightly in July.

According to a report from MIBOR – the Metropolitan Indianapolis Board of Realtors – the median price of a home sold in July last year was $475,000 in Hamilton County. Last month, that price dipped to $464,950, n 2.1 percent drop.

Apparently the buyers noticed as well because there were 540 sales closed in July. That is a 6.1 percent increase over the 509 closed last year in the same time frame. In addition, total active listings skyrocketed in the county, going from 534 last July to 681 this July – a 27.5 percent spike.

Hamilton County’s drop in price went against the overall MIBOR region. Throughout MIBOR’s 16 counties, the median sales price went up almost 2 percent for the same time period. This followed an all-time high price in June.

While Central Indiana hasn’t shown a definitive shift yet, we are watching othermarkets throughout the country as national data shows market dynamics slowly moving in the buyer’s favor,” MIBOR CEO Shelley Specchio said in a press release.

Overall in the MIBRO region, pending sales increased 2 percent and total active listings increased 24 percent. 

MIBOR represents Realtors in Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby counties