As we move into February, let's take a look at how the Central Indiana real estate market performed in January 2025. Whether you're a buyer, seller, or investor, understanding the latest trends can help you make informed decisions in today’s housing landscape.

Home Prices & Sales Activity

The median sales price for a single-family home in Central Indiana was $290,000 in January, reflecting a 5.3% increase from the previous year. However, prices saw a slight 3.3% decline from December, a common seasonal adjustment after the holiday months.

Closed sales were up 1.3% year-over-year, indicating continued buyer activity, while pending sales dipped by 3.8%, possibly due to limited inventory and economic factors influencing buyer confidence.

Market Competitiveness

Sellers remained in a strong position, with the typical listing receiving 97.5% of the asking price, slightly up from 97.3% last January. Additionally, 12.6% of all sales closed above list price, showcasing that well-priced homes continue to attract competitive offers.

Inventory & Days on Market

New listings saw a 3.5% increase year-over-year, a positive sign for buyers seeking fresh inventory. However, the number of active listings at the end of the month stood at 4,558, an 18.5% jump from last year, but still down 7.5% from December, highlighting the ongoing need for more homes on the market.

Buyers had a median of 32 days to make their move, slightly up from 31 days in January 2024, but still reflecting a fast-paced market. The overall 2.6-month supply of inventory suggests a market that still leans toward sellers but is gradually becoming more balanced.

What This Means for You

???? For Buyers: With prices stabilizing slightly, now is a great time to enter the market before spring competition heats up. More inventory is becoming available, giving you more options.
???? For Sellers: Demand remains strong, and well-priced homes are still selling quickly. Listing now could mean less competition before the spring rush.
???? For Investors: The steady price growth and increased inventory create opportunities for long-term investment strategies in Central Indiana.

If you're thinking about buying or selling this year, let’s discuss your options and create a game plan to navigate this evolving market. ???? Reach out today!