Muncie Real Estate Ranks #1 in State for Percentage Increase in Median Sales — Muncie Journal


By Woof Boom Radio News—

Muncie, IN—In a room filled with local business leaders, realtors, bankers, and Woof Boom Radio, Muncie Mayor Dan Ridenour wanted to share some positive news during a press conference on Monday.  Muncie and Delaware County rank #1 for increase in median sales – that’s residential family, condo, and town home dwellings.  Avon ranked second, Greenfield third, then Indianapolis, New Albany and Anderson round out the top 6.  Ridenour began the upbeat presentation, clearly “cheer leading” the room to cite the positive facts that he was presenting – and asked the leaders gathered to help spread the good news.   HEAR THE ENTIRE PRESENTATION HERE, covered by Woof Boom Radio News.


The Mayor provided the information below, based on data gathered from the Indiana Association of Realtors for 2020 Year-To-Date (January through July), 

Muncie / Delaware County is ranked #1 in the state for percentage increase in Median Sales Price for residential single family, condo, and townhome sales among the 26 largest real estate markets in Indiana. The 26 largest markets are those which have closed at least 350 sales through July 2020, a 50 per month closed sales average. 

The Leading MarketsPercent Change

in Median Price

Percent Change

in # of closed sales

1- Muncie/Delaware County+13.5%+2.0%
2- Avon/Brownsburg/Hendricks County+10.9%-4.4%
3- Greenfield/Hancock County+10.4%-7.1%
4- Indianapolis/Marion County+ 9.4%-1.3%
5- New Albany/Floyd County and+ 9.0%-5.5%
Anderson/Madison County (tied)+ 9.0%-3.6%

Results for Indiana (all markets- both large and small) + 7.1% -1.0%

What is interesting to note, and one of the reasons Muncie/Delaware County is the hot market for real estate n 2020 so far, is that of the top 6 markets in Median Sales Price growth listed above, only Muncie/Delaware county has seen both a Median Price increase and an increase in number of closed sales.

Some other Indiana market results for 2020 YTD thru July: 

Median Sales Price Change          # of Closed sales change 

Kokomo/Howard County +3.5 % – 8.2% 

Bloomington/Monroe County +1.9% -14.3% 

Lafayette/Tippecanoe County +3.8% – 8.7% 

Fort Wayne/Allen County +7.2% + 3.8% 

Columbus/Bartholomew County +0.0% – 0.2% 

South Bend/St. Joseph County +6.9% + 1.0% 

Elkhart/Elkhart County +6.3% – 9.4% 

Evansville/Vanderburgh County +0.7% + 0.0% 

Terre Haute/Vigo County +5.0% + 0.0% 

Carmel/Fishers/Noblesville/Hamilton Co. +8.4% + 1.6% 

Some East-Central Indiana Results: 

Median Price Change # of Closed Sales Change 

Marion/Grant County +7.3% – 8.1% 

New Castle/Henry County -2.6% +10.1% 

Winchester/Randolph County -6.3% + 6.5% 

Hartford City/Blackford County -11.7% -26.2% 

Portland/Jay County +9.0% + 7.2% 

Muncie still lags behind many markets when comparing the average median price for a home. On the positive side of things this means that our home prices are lower than some other areas. 

Muncie/Delaware County, July 2019 Median price—$99,500

Muncie/Delaware County  July 2020 Median price — $112,950 +13.5% 

The data gathered for Muncie/Delaware County are significant in size. The total number of transactions through July is 697, which is nearly 100 transactions per month. The comparisons to other communities are taken from the same source (Indiana Realtors.com/consumers/housing-data/) and cover the exact time frame and market conditions. 

Higher prices can indicate many things including an increase demand in the local market. Increasing prices can also benefit both the schools systems and local governments that rely on property taxes as a major revenue source. 

Ridenour said, “Leading the large real estate markets in the state is an extremely positive sign. These 2020 results could indicate that maybe, just maybe, good things are on the way for our community.”

 

 





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