Market Trends

August 2020 Housing Data

MIBOR just released its’ Central Indiana sales numbers for August.

  • Closings up 2% over last August
  • Inventory continues to slide, less than half what it was a year ago
  • Causing prices to trend higher, up 15% from a year ago, with the median price now at $228,000

On average, homes are selling quicker.  Our new listing from this past week had 14 showings the first day and $OLD for top dollar.  More importantly, our client got the kind of terms he needed so he could move forward comfortably in pursuit of his new home.  If you’d like that kind of know-how and service, give me a call at 317-625-0655.

Local Market Review: July 2020

Central Indiana home sales are recovering from the impact of the lockdown- as pent up demand pushed sales up 9% from July 2019, and that trend appears to be accelerating.

Inventory remains challenged, down 46% from a year ago.

But new listings showed a spark of life, up 7% from a month ago (so there is new hope for more homes being available).

Good houses are going faster and selling at almost 99% of asking price on average.  Prices are continuing to rise, with the median sales price now $225,000.

If you see something you like, [CLICK HERE for THIS WEEK’S NEW HOME LISTINGS] let’s check them out before it’s too late.

How to Maximize your Real Estate Benefit

With the lockdowns persisting now into their 5th month, we frequently get asked what the effect has been on real estate.  So, here’s the current State of the Housing Market:

  • People are venturing out.  The number of showings have returned to normal.  While some people are sitting this out, those who aren’t are really getting after it!
  • COVID pent-up demand pushed sales up 28% June over May (and within a mere 3% of June 2019)
  • But NEW LISTINGS WERE UP just 2% from May.  New want-to-be-sellers continue to be a challenge
  • Inventory has fallen to 3,210.  Down from over 8,000 three years ago.  That’s a crazy decline in a “Seller’s Market”

Put those numbers together, and it’s little wonder that PRICES ARE UP 10% from a year ago (to a median average $219,000).  And homes are selling on average for a discount from asking price of just 1.9%.

Looking for guidance on how to maximize your real estate benefit in this COVID impacted market?  Call Bob at (317) 625-0655 or Dave at (317) 626-5754.  As always, we work harder to make good things happen!