When I first started selling real estate, the demand for Speedway homes was high, and the number of homes for sale was low. This meant that almost anytime someone put a "for sale" sign in their yard, the house would be sold quickly for top dollar. This situation lasted for a long time, and Speedway residents got used to it as normal.

However, for several years now, a much higher number of homes have been for sale. Does this mean that Speedway is going downhill, and everyone's moving out?

The facts of Speedway home sales don't support that fear.

Speedway has, for a long time, had a large aging demographic. I remember an article in the newspaper many years ago pointing out that the "Racing Capitol of the World" was populated mostly by older folks.

Most of the Speedway home sales I know of happen because the owners are retired and moving to sunnier climates, or they are moving to assisted living, or it is an estate sale.

There is an occasional person who moves out of Speedway because they want a new house with a big master bathroom or something, but that is the exception rather than the rule. When you think about it, the people who understand the appeal of Speedway will buy in Speedway. There were newer neighborhoods offered in the surrounding areas even during those days when Speedway homes sold so quickly.

Another set of facts I can share are current Speedway Sales Statistics. These can be seen on the internet at www.MarvRunge.com/speedway

I usually update this page weekly, and it shows totals and averages of homes for sale and recent sales.

These numbers show lots of homes for sale, but also a healthy number of sales. And with a few exceptions, the homes have been selling for healthy prices. Real estate sales are seasonal, with fewer sales in the winter, but if you watch these statistics throughout the year, you'll see a normal, healthy number of sales, not a market in decline.

The worst thing that could happen to Speedway real estate values is for the people of this town to believe and spread the idea that Speedway homes are going down in value.

Recently, while speaking to a large group of Central Indiana real estate professionals, the head of RE/MAX of Indiana was making predictions of future trends in housing. He said that places like Speedway and Beach Grove were likely to do very well in the future. He expects the popularity of moving to the outlying counties to fade, with more congestion and more difficult commuting showing people that moving out there isn't as much fun as they thought it was going to be.

Speedway isn't perfect, and there are committees working on things that can change for the better. But please do not accept any suggestion that our town is going downhill!

If you want other areas, or have other needs, please visit my Contact Page and let me know what real estate matters I can help you with.

Why should Marvin be your Realtor?

Marvin Runge
Real Estate of Indy
Mobile 317-966-7578