"Active listings climbed to 2,179 homes in March, up 21.4% year-over-year, dwarfing the national gain of just 6.2%. New listings also rose 13.3% compared to near-flat growth nationally, which means demand simply wasn't keeping pace with supply."
"The median list price came in at $259,450, up a modest 1.7% year-over-year, but 22% of active listings had already been cut - nearly 6 percentage points above the national rate of 16.3%. Sellers who came in too high in March found themselves cutting."
"The typical home sat for 55 days in March, up 17% from a year earlier. Nationally, that pace slowed by just 7.5% - less than half Indianapolis's rate of cooldown. Buyers who come prepared can push on price."
Indianapolis experienced a significant shift in its real estate market in March, with inventory surging and homes remaining on the market longer. Active listings rose by 21.4% year-over-year, providing buyers with more choices and less urgency. Although the median list price increased slightly, a notable 22% of active listings faced price cuts, indicating seller strain. Homes typically sat for 55 days, reflecting a 17% increase from the previous year, which is more than double the national slowdown rate, allowing buyers greater negotiating power.
Read at SFGATE
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