All Reports Monthly Market Report NIRA • March 2025 • All

Monthly Market Report

Monthly totals, trends, and year-over-year comparisons

 Quick Summary

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Monthly Market ReportNIRAMarch 2025

Supply

Inventory

Average daily inventory
March 2025
1,904
Expected range of 1,161–1,283
Month-over-month
-1%
Typical change is about -17%
Year-over-year
+16%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: A listing counts in inventory if its status is active, not pending or sold. Inventory fluctuates constantly, so we calculate the monthly measure as the inventory at the start of each day average across the entire month. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

New Listings

Monthly total by listing date
March 2025
1,010
Expected range of 863–954
Month-over-month
+38%
Typical change is about +14%
Year-over-year
+17%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: Listings may be posted to an MLS system after their listing date. Historically, 92% of listings are posted within three days and 99% within seven days. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Sales

Closed Sales

Monthly total of closed sales
March 2025
671
Expected range of 712–787
Month-over-month
+28%
Typical change is about +31%
Year-over-year
-2%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: Sales may be posted to an MLS system after their closing date. Historically, 79% of listings are posted within three days and 96% within seven days. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

New Pending Contracts

Monthly total by pending date
March 2025
940
Expected range of 797–881
Month-over-month
+29%
Typical change is about +13%
Year-over-year
+12%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: While not all pending contracts result in a closed sale, they are a very strong predictor of sales trends five weeks in the future. Pending contracts may be posted to an MLS system after their pending date. Historically, 81% of listings are posted within three days and 92% within seven days. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Market Momentum

Median Days on Market

Days from listing to pending
March 2025
18
Expected range of 24–26
Month-over-month
-40%
Typical change is about -26%
Year-over-year
+38%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: This is calculated as the difference between listing date and pending date. To filter out erroneous data, this filters out listings with a pending date before 2017. There is delay in entering pending dates, so recent months represent only the portion of sales with a pending date. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Months of Inventory

Current supply versus 12-month sales average
March 2025
2.6
Expected range of 1.2–1.4
Month-over-month
-1%
Typical change is about -15%
Year-over-year
+18%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: Months of inventory is calculated as the current month's supply ÷ the average sales per month over the previous 12 months. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Price

Median Sale Price

Median monthly sale price
March 2025
245,500
Expected range of 220,658–243,885
Month-over-month
-2%
Typical change is about +4%
Year-over-year
+4%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: This excludes properties where the sale price is less than half the listing price or greater than twice the listing price, assuming those are errors. The median price represents the middle value of all properties sold. Half of sales had a higher price and half had a lower price. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Sale Price as Pct. of List Price

Monthly average
March 2025
94.5%
Expected range of 94.4%–96.3%
Month-over-month
+1%
Typical change is about +1%
Year-over-year
-1%
View source and notes...

Last update: April 7, 2025, midnight Source: IAR MLS Data Warehouse Data notes: This excludes properties where the sale price is less than half the listing price or greater than twice the listing price, assuming those are errors. NIRA includes Jasper County, Lake County, LaPorte County, Newton County, Porter County, Pulaski County, Starke County.

Demographics

Affordability