What does "The Market is Hot" Really Mean?
In the past year, existing home sales are up 14.3 % from last year’s sales as reported by the Indiana Association of Realtors. Wow! Exciting news for homeowners! The agency that represents over 16,000 Realtors also has reported some other wonderful facts for homeowners: pending home sales INCREASED 2%, median sales price INCREASED 4.4%, percentage of original list price INCREASED to 95.9%, number of new listings DECREASED 5.3%, inventory of homes DECREASED 15.2%. Music to every homeowner ears in Central Indiana and it could not be more beautiful! What do those astounding facts mean to you? It means your home has never been worth more! Buyers are willing to pay more, decide quickly, and move aggressively to get the home of their dreams. This translates to less time on the market, so less stress in having your home “show room” ready. Buyers are very accommodating, hoping that will be appealing to the seller. They will often take possession when it is best for seller, ask for little in terms of concessions, and pay full price. The homes that are wonderfully updated, carefully maintained, and properly staged are literally flying off the shelves! Some sell within the first few hours on the market! Multiple offers, many over list price are not uncommon. It is a great time to sell a home in the Indianapolis area, but is it a great time for you? Contact your realtor or myself if you have questions. We are happy to help! Contributed by: Suzanne Green, Realtor, Broker, Accredited Staging Professional An advocate for local business and a proud member of Indiana Originals