MIBOR just released sales numbers for the month of January, and by all measures the trends of recent months are continuing in full force. Bottom line, sales are up and inventory is not keeping pace with demand. The takeaway is for buyers to be successful in their quest for a new home, they’d best be like a Boy Scout, (ie. “Be prepared”).
Closed sales are up 4% over last January’s numbers, while new inventory only increased 1%. That combination is playing the leading role in giving home prices a boost. They’re up 5% over a year ago, topping $143,700.
At month’s end there were 8,668 homes listed for sale in central Indiana; which is 15% less than a year ago this time. Btw, the current inventory is lower than anything I’ve seen. Ever. Anywhere.
There’s not much you or I can do about any of that, except to Be Prepared ourselves. To learn how to best position yourself to take advantage of opportunities in this market, don’t be shy— call me!
“I work harder to make good things happen!” -Bob