Spring kicks off what’s expected to be a mostly sunny 2016 real-estate season. Last year, the number of sales here climbed by 8 percent and the median sale price by 5 to 6 percent every month. Indy tends to follow the country’s trends, and the National Association of Realtors forecasts small increases in existing-home sales. So expect more of the same steady growth the market has seen over the past two years.
Local sellers have it even better. Indy aims for six or seven months of inventory, but right now, the stock is down to four months. “In some pockets of Hamilton County, it’s even lower,” says Claire Belby of MIBOR Realtor Association.
Buyers will need to be financed, make quick decisions, expect other offers, and come in at their best price. But today’s buyers are still pretty picky. “There’s this prevalence of home makeover shows, so the expectation is pretty high on the buyer side,” Belby says. To get top dollar for their homes, sellers should still plan on completing all updates and maintenance.
