Indiana home sales flat, new listings rise in April
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
A new report from the Indiana Association of Realtors shows new home sales in April were nearly flat compared to the same month last year. However, pending home sales totaled 7,937, which was a 5% year-over-year increase.
Closed sales totaled 6,924 last month, which 12% higher than March.
IAR President Kim Ward said more buyers have been drawn to the market thanks to more homes being for sale mortgage rates being consistently below 2024 levels since the end of February.
“Even though home values continue to rise, lower rates mean a homebuyer’s monthly payment will be virtually the same as if they would have bought a median-priced home last spring,” Ward said in a news release. “Plus, today’s buyers have more options to choose from across every budget level.”
New listings last month totaled 9,732, which was a 10% jump from April 2024. The state’s overall inventory of available homes at just under 13,000 average daily listings represents a 23% year-over-year increase.
The IAR added that the average home price in April rose to $263,000, which is a 5% jump compared to April 2024.
Ward said sellers continue to see benefits from rising property values.
“If you sold a home in Indiana over the past three months, you’re most likely to have purchased it around 2018 or 2019 and seen its’ value increase 50% or more while you lived there,” Ward said. “That’s roughly $100,000 in equity gained for the ‘median’ home seller. And homeowners in many communities across Central Indiana, Fort Wayne and South Bend, and smaller cities like Madison and Marion have gained equity even faster.”
You can connect to the full April Housing Report from the Indiana Association of Realtors by clicking here.