Indianapolis Condominiums - Supply Outpaces Demand

The Indianapolis condominium market is about to become even more of a buyer’s market; with over 1,000 units either recently built or under construction competition is getting fierce and prices are being reduced.  This situation is not unique to the Indianapolis area as developers across the country face the same situation.  Many condo projects were started several years ago during the real estate boom and have yet to be completed leaving developers with unsold units and a changed marketplace.  While some condos are being converted to rental units, there is still a huge supply of condos on the market.  According the National Association of Realtors, the U.S. finished 2007 with enough condos to absorb 10 months of demand; and with more and more projects being completed I suspect that number has risen.  Another factor plaguing condominium developers is how many buyers will simply walk away from their contracts and their deposits. 

All of this supply and uneasiness has created an amazing time to buy condos for opportunistic buyers seeking great deals.  If you are looking for a condo in the Indianapolis area, no is the time to buy and get a great deal.  Other than downtown Indianapolis, one the coolest areas IMHO, is the Carmel condos located on and/or around the Monon Trail near the Arts District.  Visit our Indianapolis Condos or Carmel Indiana Condos pages to search for all the available units.    

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