With 2024 now in full swing, let’s take another look around the state at the real estate market.
Nationally, mortgage rates are holding steady in the 6% range, down from 8% in October, but the overall inventory is still down about 4% year over year, real estate tracking site Redfin data shows.
Thanks largely to the reduced inventory, the median U.S. home sale price rose 5.1% during the first four weeks of January, according to Redfin. That jump was the biggest increase since October 2022.
In Indiana, home prices were up 3.5% in December compared to a year ago.
Here’s a look around the state at what buyers in the $500,000 price range might find in various cities.
Indiana home buying:What income do Indianapolis homebuyers need to buy a home? It keeps going up.
Indianapolis
This custom-built home on Columbia Ave. is only two years old and has more than 2,600 sq ft of space.
The 3 bedroom, 2.5 bath features exposed brick, ductwork and wood beams in the kitchen and living area, along with granite countertops and a 5-burner Italian stove.