Indiana generated a total of 6,670 home sales in October, up 5% year-over-year, while the state’s 6,669 pending sales finished 7% ahead of one year earlier.
According to data released by the Indiana Association of Realtors, 8,684 homes were listed in October, up 8% from one year earlier. The state’s supply of available homes increased for the seventh straight month to 15,410 average daily listings. Homes took 17 days to go under contract last month, up from 13 days in October 2023.
At the same time, the state’s median sale price fell from $260,000 in September to $258,000 in October. A larger share of homes listed and sold above $350,000 over the past two months kept this median price 8% above October 2023.
“Mortgage rates ticked up last month but are still on the low end of what we’ve lived through the past two years,” said IAR President Jennifer Parham, managing broker of Lighthouse Realty of Northwest Indiana. “Homebuyers have more buying power than they did this summer and more options to choose from.”
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