Welcome to March!! It is hard to believe spring is right around the corner. That also means the spring real estate market is here as well!! You may have heard that the national housing market is severely short of inventory and Indy is no exception. More on that later.
Exciting news from our team!! Many of you know Kylie is due with her baby at the end of March. We welcome Melissa Johnson to our team who will be filling in for Kylie. Melissa has been training with Kylie for the past 2-weeks and will continue to do so until Kylie has her baby. Please welcome Melissa if you talk with her on the phone or through e-mail. We are excited to have her join us!!!
Jack and Mary Anne are enjoying some time in Florida relaxing and soaking up the sunshine.
Steve's nephew Caleb is back playing soccer after many months recovering from a severe injury. He is excited to be back on the field.
Brigid is still working hard at Merck and then in her 'spare' time, she has opened up an Etsy store selling executive pens she made, photos from vacations we have taken, and lots and lots of knitwear. She works so hard on these items and is excited to have several sales already. She will be selling her goods at craft fairs around Indy this spring with the first one this coming weekend. Check out her site here.
Ana is working hard at her musical practice where she is performing this spring At The Bandstand. She is also practicing her trumpet for upcoming performances as well as her dance lessons and Indianapolis Children's Choir practices for many upcoming concerts, including performing this May at a once-in-a-lifetime performance at Carnegie Hall. Most of our family will be attending to see her perform on one of the biggest stages in the world. Exciting!!!
Tali is still our little gymnast practicing 3x/week for 2 hours/day. She has been doing very well and placing at meets and enjoys every minute of it!
So, let's talk briefly about this real estate market. We are at less than 50% of a healthy supply level of 6-months. Interest rates are still very low, but creeping up. Home price are also moving up. Builders are doing everything they can to put up much-needed inventory, but they can't keep up. Skilled labor is also at a severe shortage restricting supply even more. The National Association of Builders predicts we need 1.3 million new homes to be built each year for the next 7 years in order to satisfy demand. To put that into perspective, last year was the best year since the Great Recession for new construction and 1.2 million homes were built-still short of what is needed.
Are you frustrated with the lack of inventory? Are you considering new construction? Give us a call as we have relationships with most builders in the city-both production and custom and can help guide you through the complex and sometimes overwhelming experience to make things as smooth and easy as possible. Best of all? Our professional, experienced, and knowledgable help is absolutely free to you! Builders pay for our services and you won't get a discount if you don't have your own professional representation. Builders actually prefer if you have an agent to help guide you through the process as it makes their job easier as well-especially with an agent who is experienced and well-versed with new construction. Call us today!
Here are some market statistics for the MIBOR service area for the month of January comparing January 2017 to January 2016, courtesy of MIBOR:
New listings-UP 1.1% to 2,581
Pending Sales-UP 5.5% to 2,149
Closed Sales-UP 4.4% to 1,806
Median Sales Price-UP 4.5% to $143,700
Average Sales Price-UP 6.1% to $182,552
Percent of Original List Price Received at Sale-UP 0.6% to 93.5%
Total Active Listing Available at Month End-DOWN 14.9% to 8,668
Months Supply of Inventory/Absorption Rate-DOWN 23.7% to 2.9%
Enjoy this month's newsletter and don't miss the article on what a kid learned a summer camp and where you keep your phone-interesting read!
Click here to read the March newsletter.
Click here to download the most powerful real estate app available.
Click here to access exclusive coupons & discount at places you shop every day
Your friends in real estate,
Steve, Jack, Kylie, & Melissa
Exciting news from our team!! Many of you know Kylie is due with her baby at the end of March. We welcome Melissa Johnson to our team who will be filling in for Kylie. Melissa has been training with Kylie for the past 2-weeks and will continue to do so until Kylie has her baby. Please welcome Melissa if you talk with her on the phone or through e-mail. We are excited to have her join us!!!
Jack and Mary Anne are enjoying some time in Florida relaxing and soaking up the sunshine.
Steve's nephew Caleb is back playing soccer after many months recovering from a severe injury. He is excited to be back on the field.
Brigid is still working hard at Merck and then in her 'spare' time, she has opened up an Etsy store selling executive pens she made, photos from vacations we have taken, and lots and lots of knitwear. She works so hard on these items and is excited to have several sales already. She will be selling her goods at craft fairs around Indy this spring with the first one this coming weekend. Check out her site here.
Ana is working hard at her musical practice where she is performing this spring At The Bandstand. She is also practicing her trumpet for upcoming performances as well as her dance lessons and Indianapolis Children's Choir practices for many upcoming concerts, including performing this May at a once-in-a-lifetime performance at Carnegie Hall. Most of our family will be attending to see her perform on one of the biggest stages in the world. Exciting!!!
Tali is still our little gymnast practicing 3x/week for 2 hours/day. She has been doing very well and placing at meets and enjoys every minute of it!
So, let's talk briefly about this real estate market. We are at less than 50% of a healthy supply level of 6-months. Interest rates are still very low, but creeping up. Home price are also moving up. Builders are doing everything they can to put up much-needed inventory, but they can't keep up. Skilled labor is also at a severe shortage restricting supply even more. The National Association of Builders predicts we need 1.3 million new homes to be built each year for the next 7 years in order to satisfy demand. To put that into perspective, last year was the best year since the Great Recession for new construction and 1.2 million homes were built-still short of what is needed.
Are you frustrated with the lack of inventory? Are you considering new construction? Give us a call as we have relationships with most builders in the city-both production and custom and can help guide you through the complex and sometimes overwhelming experience to make things as smooth and easy as possible. Best of all? Our professional, experienced, and knowledgable help is absolutely free to you! Builders pay for our services and you won't get a discount if you don't have your own professional representation. Builders actually prefer if you have an agent to help guide you through the process as it makes their job easier as well-especially with an agent who is experienced and well-versed with new construction. Call us today!
Here are some market statistics for the MIBOR service area for the month of January comparing January 2017 to January 2016, courtesy of MIBOR:
New listings-UP 1.1% to 2,581
Pending Sales-UP 5.5% to 2,149
Closed Sales-UP 4.4% to 1,806
Median Sales Price-UP 4.5% to $143,700
Average Sales Price-UP 6.1% to $182,552
Percent of Original List Price Received at Sale-UP 0.6% to 93.5%
Total Active Listing Available at Month End-DOWN 14.9% to 8,668
Months Supply of Inventory/Absorption Rate-DOWN 23.7% to 2.9%
Enjoy this month's newsletter and don't miss the article on what a kid learned a summer camp and where you keep your phone-interesting read!
Click here to read the March newsletter.
Click here to download the most powerful real estate app available.
Click here to access exclusive coupons & discount at places you shop every day
Your friends in real estate,
Steve, Jack, Kylie, & Melissa
