After rising for the past two months, sales of existing homes slipped slightly in central Indiana in November, according to the latest data from the MIBOR Realtor Association.
Closed existing-home sales in the 16-county area ticked down 0.3% on a year-over-year basis, from 2,241 in November 2023 to 2,232 in November 2024.
Prior to November, sales had risen in four of the previous seven months on a year-over-year basis following a 26-month streak of declining sales.
The median sale price for a home in the area rose 3.5% last month, to $300,000, compared with $289,950 in November 2023.
The active inventory of homes rose from 4,511 in November 2023 to 4,849 last month, a 7.8% increase.
There were 2,241 new listings in November, up 1.4% from the same month in 2023.
Marion County
In Marion County, closed sales in November decreased 2.6% from a year ago, to 802. The median sales price in the county rose 8.5% from a year ago, to $249,450.
Other area counties
In Hamilton County, sales were up a whopping 18.7% in November on a year-over basis, to 444. The median sales price in the county increased 4.8%, to $449,998.
In Johnson County, sales jumped 25.8%, to 190, and the median sales price rose 9.4%, to $339,250.
In Hendricks County, sales sank 12.1%, to 167, and the median sales price dipped 2.8%, to $340,000.
Sales dropped 16% in Madison County, to 121. The median sales price rose 12.3%, to $220,000.
Sales in Boone County decreased 30.2%, to 88, while the median price increased 8.1%, to $367,450.
Hancock County sales rose 24.1%, to 103. The median price was down 4.5%, to $315,000.
Morgan County sales fell 15%, to 68, and the median sales price jumped 18.9%, to $297,250.
Shelby County saw a 14.3% drop in closed sales, to 30. The median price climbed 0.8%, to $182.400.
Statewide sales
The state saw a 1% increase in closed sales on a year-over-year basis, with sales rising to 5,906 last month, according the Indiana Association of Realtors.
Statewide, the median sale price rose to $260,000 in November, up 8% from a year ago. New listings rose 1%, to 6,480.