Sometimes, a high priced market is good for real estate. A great example is the Indianapolis market. Surrounding cities such as Chicago and Pittsburgh, for example, have driven more potential buyers to search for somewhere they can afford and they found Indianapolis.
Because of the overpriced market elsewhere, Indianapolis has seen growth. Our city has seen quite success – in ways that some of us could of never imagined! In just over a year, the home value in Indianapolis alone is almost twice as the national average. From December 2017 to December 2018 median home values in Indianapolis appreciated just over 14%. Next year homes are predicted to appreciate just over 2%. This difference should not alarm you, it is just the market stabilizing. Our median home price is now up to $139,200.
A combination of a growing population, a strong economy, and low prices has also attributed to this growth.
To put a summary to this: the Indianapolis market has just flourished – especially in the past 12 months! There are currently 1,285 homes that are foreclosed or defaulted on. These homes are or soon will be up for auction. These homes represent a great opportunity for investors.
That being said, demand is increasing day by day. We think that investors should be getting in sooner rather than later, so the real question is: What are you waiting for? There’s no better time than now!
Don’t get caught unawares of the opportunities in the Indianapolis Real Estate market! #Ironclad
- 1Indianapolis is very affordable in comparison to Chicago and Pittsburgh.
- 2The real estate market in Indianapolis has appreciated at a rate twice that of the national average.
- 3Indianapolis has low prices, a strong economy, and a growing population, making for a great opportunity.
See the original at: https://www.fortunebuilders.com/indianapolis-in-real-estate-market-trends-analysis-2019/