Local Market Review: November Housing Data Local Market Review: November 2018 Housing Data Housing data released by MIBOR from the MIBOR BLC® listing service today shows: • New Listings up 4.2 percent in November to 2,702 • Median Sales Price up 8.6 percent in November to $179,000 • Average Sales Price up 9.3 percent in November to $219,288
Did You Know? The majority of new households will earn below the area median income. Much of the new job growth in our region is likely to be below median wage opportunities. Even accounting for the prevalence of two-earner (or more) households, household incomes will still remain low resulting in the need for lower cost housing choices across the Region. The median household income for the Indy Region falls just short of the $61,272 National median household income sitting at $58,000. Median household incomes have remained relatively stagnant while housing costs have skyrocketed. In 1975, the average price of a new home was just over $42,000 compared to a national household income of approximately $12,000. By 2015, incomes had rose by 360% while new home prices rose by nearly 750% to hit $360,000. Housing cost have continued to rise since that time while incomes have remained somewhat flat.