Tough housing market makes it easier to sell than buy around Indy

Local housing market struggles
Home buying struggles
Easier to sell than buy

INDIANAPOLIS (WTHR) — Depending on where you live around Indiana, you may see "for sale" signs going up, only to have a big "sold" sign take its place before you can blink an eye.

It's a tough market, but the most affordable homes right now are in Indianapolis and Greenfield. The trickiest places to get into are on the north side near Zionsville. And for the first time ever, the average price for a home in Fishers is up above $300,000. Those statistics are according to the RE/MAX Midwest 2018 Market Trends report.

We're still seeing a lot of new construction going up, but those workers can't keep up with demand for people who want something new. That's putting extra pressure on homes already there.

If you want to sell, your home could be on and off the market pretty quickly. Some are being sold within hours of being listed or even before! If you're looking to buy, it can be exhausting just trying to get in the door. First time home buyers are having the hardest time closing a deal.

Andrea Eldon, who is a realtor with RE/MAX Complete, says she's never seen the market like this during her 20 years in the business.

“The real estate market is crazy right now,” said Eldon. “I don't know what else to say. A house goes on the market, you get a bunch of showings right up front and there's multiple offers.”

So if you're selling your home, you’re in luck! But on the flip side, if you're looking to downsize or find a different home, this can be frustrating. You may make a lot of offers before getting approved.

One woman in Fishers is having a tricky time getting things sorted out with the current housing market. Barbie Wynn and her family have been living there for almost 20 years, but now they're looking to downsize. Selling her home shouldn't be an issue, but she says it's been frustrating looking for their next place.

“We love the amenities of our house and our neighborhood and we want something similar to that, just in a smaller little house,” said Wynn. “And those ones go real quick.”

Realtors gave us a few suggestions for getting the house you want. The first is to put in a higher offer than the asking price, which may be more expensive, but could pay off. Another idea is to be memorable by leaving a note or sharing a story with the seller. Eldon says one couple noticed a lot of IU memorabilia around a home they were interested in and told the seller about their personal connection to the university. They got the house, even though their offer wasn’t the highest one.

Filed under: