10:03 PM EDT, March 29, 2012
The housing market is now changing in Indianapolis. People shopping for homes in Central Indiana are finding a surprise: homes are selling fast and lots of people are bidding on the good ones.
Michelle Cain just bought a new home.
“I thought we would have plenty of time to look and these houses would remain on the market for months.”
But that is not what Cain found.
“It happened to us a two or three times. We found a house we liked and we thought about it and there was already an offer in.”
Cain used Century 21 Scheetz Realtor Emily Bowman to help her find a home. After seeing the urgency on the market, the pair had to change their gameplan to move faster. It’s something a lot of buyers are finding right now.
“It was if you don't put an offer in today, it's gonna be gone.”
“The market has shifted to more of a new market,” said Kevin Hudson with Century 21 Sheetz.
Hudson said February to August is the normal busy season in real estate, but realtors are seeing something different this year.
“In some areas of the city -- suburban areas and even parts of downtown -- we are seeing a shift to the seller, more balanced.”
He said sellers aren’t necessarily cashing in big, but they are seeing fairly priced homes move fast. The reason for the change? Less inventory and more buyers has forced prices up slightly, about 2.2 percent.
Hudson said overall, the market right now is good for both sides.
“With record low interest rates, with prices being fair, it's a great time to buy a house.”
As for Cain, she finally found her home. She closed on it Thursday. The home she found was on the market for two days when she first saw it and seven other families were scheduled to check it out when she put her offer in.
“We are glad we found exactly what we were looking for and we're excited to start our life in Fishers.”
The homes that are moving fast are generally in a certain price range and area of town. Realtors tell us that homes that are move-in ready are more desirable right now.