Indianapolis Housing Market EXPLODING!

With all of the warm weather, we can almost 'taste' Spring. This has been especially true of the real estate market with activity we haven't seen in years! I'll get to some great stats in a moment. Ash Wednesday was yesterday and 'Fat Tuesday' was the day before. For Catholics, that means Lent is here. I noticed quite a few 'good' Catholics with the ubiquitous crosses on their foreheads yesterday. Unlike the wind and the type of religion one practices, real estate seems to be very visible all of the time. It is nice to be able to report some good news. Click here to read our March 2012 newsletter and access our VIP Savings Site. The Indy real estate market, as mentioned earlier is quickly heating up, seeing gains we haven't seen in years. Our Months Supply of Inventory is down to 7.6 months (down 12.8% from last year). Active listings are down 10.4%, which is great as we need to reduce our oversupply of housing inventory. Median sales price is up 4.7%. Closed sales are up 28%!! Pending sales are up 18.3% and new listings are down 8.8%, which is also good as we need to reduce inventory more. Distressed sales are <20% of the overall housing marketing for the first time in years. Bottom line-the housing market is markedly improving!