The Spring Real Estate Market Got Hot!!!

The Metropolitan Indianapolis Board of Realtors says the market in Indianapolis has been hot. 
Pending sales were up 14.5% in the first quarter of 2012 and up 8.6% in March.  Months of supply of inventory was down 15.8% for the quarter to 7.8 months.  Closed sales were also strong with units sold up 18.3% for the quarter and up 10.1% in March.

Home prices increased at a steady pace.  Median sales prices increased 4.9% to $118,500 for the first quarter and up 8.5% in March.