The March real estate data release from the Indiana Association of Realtors shows another month of double-digit growth in closed home sales, new listings and new pending sales from February to March, with the statewide median sale price also increasing to $250,000.

Statewide sales bounded 21% ahead of February to 6,208 in last month while new listings grew 19% to 7,749. While closings finished 8% below March 2023, they are still well ahead of seasonal expectations – more importantly, new listings continued to trend above 2023 (+5% over the first three months of the year) and our overall inventory of homes for sale finished ahead of 2023 for the first time.

The realtors see the positive in these numbers by remembering the sharp sales drop-off that dashed market momentum last April – a plummeting supply of homes for sale in March combined with uncertainty on mortgage rates hit the housing market hard last spring. 2024 is seeing strong-but-stable growth as both homebuyers and sellers seem more confident in the future.

The full March Housing Report and local market data is available at: https://data.indianarealtors.com.