How Are Home Prices Compared To Last Year?
Despite turbulent market trends, home values are still quite high.
One of the main questions I continue to get in today's market is, “Are home prices in central Indiana up or down compared to a year ago?” I think we hear this question so often because of the confusion about what we're hearing in the news. Despite inflation and rising rates, data shows that current prices are still higher than last year’s prices.
Compared to September 2021, the median sales price for a home in central Indiana was up 11.8%. What you hear about in the news is that prices aren’t rising as quickly. This is true—the pace of increase is decelerating.
There's a lot of uncertainty in the market right now because of inflation and rising interest rates. Things are hard to predict, but the facts show that your home’s value is still above where it was a year ago. We’ll continue to track that number.
If you're interested to know the value of your home or if you have any other questions, please send me an email or give me a call. You can also fill out the form that's on our website for a free valuation request.