It's a sellers market
The snow is melting, and signs of spring are in the air, and there is a lot of pent-up demand for homes, turning the market from a buyers market to a sellers market.
Home-buying has been on an upswing for several months, and that's good new for those who are ready to sell their houses. Despite the Polar Vortex, homes have been selling well. However, because of the Polar Vortex, people have been waiting for it to warm up before putting their houses on the market, and that's caused low inventory.
Here's an example of what I'm talking about:
In Carmel, there are 58 houses listed for sale priced between $200,000 and $300,000. There are 41 houses in the same price range pending sale (meaning there is an accepted offer on the property), and 42 have sold in the last 60 days - that's during the brutal months of winter.
While there continues to be greater demand for houses under $300,000, sales have been positive for higher-end houses, too. Over the last 60 days, 48 houses listed between $300,000 and $500,000 have sold, while 51 are pending sale. There are 128 listed for sale.
There is a similar story in Fishers
There are only 67 houses for sale in Fishers listed between $200,000 and $300,000, while 71 are pending sale and 45 have closed in the last two months. There have been 29 homes sales of houses priced between $300,000 and $500,000 over the last 60 days, while 48 are pending sale and 101 are listed for sale.
Washington Township in Marion County
If you're looking for a home in Washington Township on the northside of Marion County, inventory also is low in some price ranges. For example, in the $200,000 to $300,000 price range, there are only 58 houses for sale, while there are 28 pending sale and 30 sales over the same two-month period. Although you'll find plenty of homes listed between $100,000 and $200,000, as here are 251 for sale, and 67 pending sale now. Another 76 have closed in the last 60 days.
Similarly, in Lawrence Township, there are plenty of house for sale listed between $100,000 and $200,000 (230), while there also have been good sale; 66 are pending sale and 81 have sold.
Is it a sellers' market on every side of town? No. Some areas are selling faster than others, and even in the northern suburbs, some subdivisions simply sell better than others (you've heard about location, location, location?) Regardless of where you live, however, when houses are priced right and are in good condition, they simply sell faster and for higher prices.