Falling interest rates and rising economic confidence produced a more active statewide real estate market in January.

The Indiana Association of Realtors says home sales and new listings both outpaced January of 2023.

Last month say just over 30 more home closings than January of last year, and two-thirds of Indiana counties saw year-over-year increases in sales.

They say homes sold for a median price of $235,000, which remained the same as December. Homes were on the market for an average of 28 days, which is a faster pace than the typical pre-2020 market, though it is three days longer than January of last year.

And, the Indiana Association of Realtors says almost 5,900 homes were listed for sale in January, which is four percent higher than in 2023. 

• Marion County saw 644 closed sales in January, 7% ahead of 2023; sales across the Indianapolis metro area overall grew 2% over January 2023 at a median price of $284,000.
• In addition to Marion, the northern tier of Central Indiana counties saw healthy year-over-year growth, including Hamilton (335 sales, up 4%), Boone (61 sales, +9%) and Madison (105 sales, +14%).
• Allen County (276 sales) saw solid year-over-year sales growth (7% ahead of January 2023) and also saw 22% more listings added to the market (376); the Fort Wayne metro posted 11% growth in home sales versus last January.
• Clark County (107 closed sales) led Indiana’s portion of the Louisville metro to 10% sales growth; Clark County also added 216 new listings, 16% ahead of 2023.
• Further west on the Ohio River, Vanderburgh County notched 8% growth over 2023 with 143 home sales in January.
• Howard County continued to register strong gains in home sales (100 sales in January, +47% year-over-year) and new listings (+12%).
• While Lake County (296 sales) fell 4% behind January 2023, neighboring Porter and LaPorte both saw 14% year-over-year growth with 91 and 81 home sales respectively.
• After outpacing the rest of Indiana in home sales through 2023, St. Joseph County closings dropped 9% below last year in January.
• Among other metropolitan areas, Lafayette saw a strong 13% gain in January home sales at a $243,000 median sale price.
• Continuing a trend in 2023, Indiana’s rural counties outperformed statewide year-over-year growth in home sales, up 7% from last January; while sale prices also grew 7% year-over-year, the $180,000 median remains more affordable than metropolitan housing markets.