The Indiana Real Estate Markets Report today released by the state’s REALTORS shows that statewide, when comparing April 2013 to April 2012, the following occurred:

• The number of closed home sales increased 18 percent to 6,569,
• The median sale price of those homes increased 2.6 percent to $119,000,
• The average sale price increased three percent to $141,697,
• The percent or original list price received increased 1.4 percent to 92 percent,
• The number of pending home sales increased 21.3 percent to 7,402, and
• The number of new listings increased 6.9 percent to 12,117.

April marked the following consecutive year-over-year gains in home prices and market activity:

• The number of closed home sales has increased year-over-year for 22 consecutive months,
• The median sale price of homes has increased for 17 consecutive months,
• The average sale price has increased for 16 consecutive months,
• Sellers received a greater share of their original list price for the 14th consecutive month, and
• The number of pending home sales has increased for 19 consecutive months.

“Low interest rates have lured consumers to the marketplace and confidence has kept them there. But, low inventory has created a competitive environment over limited choices,” said Kevin Kirkpatrick, 2013 President of the Indiana Association of REALTORS and co-owner of Prudential Indiana Realty Group. “While this has put more homeowners in a better equity position, it also threatened sales volume down the road. Luckily, April brought an increase in new listings.”

Anyone looking to buy, invest or sell should start with the sortable county tables of this report and then talk to a local REALTOR® who can give the most insight into what’s happening in a neighborhood, city or school district.

IAR represents approximately 15,000 REALTORS who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS, and subscribes to its strict Code of Ethics.

Source: Indiana Association of Realtors, Inside INside Business