Real estate market continues to fall

INDIANAPOLIS (WISH) — Whereas sale costs are on the rise, the actual property market continues to fall. Realtor Dan Brown joined Dawn to debate why the market is falling.

“It’s nonetheless a dynamic market. It’s slowing down a bit bit. A few of that’s simply as a result of season. Though we’re nonetheless very busy, the market nonetheless is clipping proper alongside. Individuals are shopping for and promoting homes daily. One of many massive impacts in fact is that the rates of interest have picked up,” Brown stated.

The common September residence sale worth for the 16-county central Indiana area was $319,568, a rise of 10.7 % in comparison with September 2021. Obtainable housing stock elevated, up 55.5% in comparison with September 2021.

Madison County confirmed the best improve in pended residence gross sales with 15.9% progress in comparison with Sept. 2021. Jennings County pended gross sales had the best lower with 63% fewer properties bought in Sept. 2022 in comparison with this time final 12 months.

Houses bought in 18 days on common, which is 5.3% quicker than in 2021. Hamilton County properties left the market 27.8%, or 5 days, extra shortly than in 2021, promoting the quickest within the 16-county central Indiana space.

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