Indianapolis Area Market Update
This is a quick review for the Indianapolis area market. This is for those who are thinking about investing here in the Indy area or for those who are wanting to expand what they are already doing. We have definitely seen a shift in our area as far as the ways deals are done but there are still deals out there. This is just for Marion and Hamilton counties for July 2021 and comparing that to July 2022. The graphic below shows what we are currently seeing and I will make some important distinctions after that.
Here is a direct link to view more stats: Indianapolis Area Market Reports
Residential New Active Listings-
2,491 -July 2021
2,246- July 2022
2,214- July 2021
1,919- July 2022
Average Days on Market-
5- July 2021
8- July 2022
So, what does this mean for those who are wanting to buy? There are always deals out there. It takes time to find them and now they are not always selling on Day 1 of them going live. Houses are staying active slightly longer that what it was like last year. This also shows that the number of new active listings is going down. Unless new construction starts going into overdrive this will continue to be the trend and means it is going to be more difficult to find deals. Someone close to me made the analogy that buying a house is like trying to catch a train. Each time you miss the train it becomes harder and harder to catch it again. The more you wait and "just think about investing" the more deals are sold and taken away from you. The sooner we can get you in the game and investing the sooner you can start to see a return. Even if that means your interest rate is higher than what you want. Remember: "We marry the house-date the rate!" This is just another reason why you would want to refi after a year or whenever rates go down. You can pull out some of your equity and get a better rate when interest rates fall again.
Take action! Get started! Whether it is your first investment purchase or you want to add to your current portfolio- make it happen! I continue to see amazing deals out there but they take time and patience to source. You have to get involved in this market if you want to be successful investing here.
If you have any questions or would like to get started feel free to reach out to me.