Every month the Metropolitan Indianapolis Board of Realtors (MIBOR) provides its members with market statistics for the 13-counties it represents.  Personally, I enjoy reviewing these reports and feel it's important to share the results (both good and bad) with my clients.  The January '08 results are in and although it is a snapshot view of our marketplace it is an accurate representation of what's happening and what's not. 

Across the 13 counties, 1,449 homes were sold during January '08 as compared to January '07 in which 1,893 homes were sold.  This represents a decline of 23.5% units sold.  However, interestingly enough, out of the 13 counties represented Montgomery County was among 3 counties that actually showed an increase in January '08 volume as compared to '07!  Montgomery County posted a 16.1% increase with 36 residential homes sold! 

Having researched this a bit further I discovered that of the units sold in January it was nearly an equal split of owner occupied homes and foreclosures.  The exception being one new construction sale thrown in the mix.  The message here is homes are still selling and there continues to be great opportunities for investors!

Encompassing the 13 counties, January '08 brought an additional 4,990 new listings on the market.  This represents a 25.5% increase in the number of residential homes available as compared to January '07.  In Montgomery County specifically,  we contributed 48 homes to this total.   The numbers are indeed indicative of the adage "there's never been a greater time to buy"!