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Prices of new and existing homes continued to rise in Central Indiana in the first three months of 2021, with Hamilton County leading the way.
Experts said the demand for building supplies is driving up the cost of new homes while overwhelming demand for existing homes is doing the same on the resale market.
The Builders Association of Greater Indianapolis reported that single-family building permits in Central Indiana were up 66% over 2020 with 1,127 permits this year compared to 680 in March of last year.
The median new home price in Hamilton County was $462,000, an increase of $10,000 on average from two years ago. The median new home price in the rest of the nine-county metro area was $316,699, said Kate Collins, government affairs director for BAGI. Boone County had the second highest median new home price, $378,000.