Mornin', peeps!
April 2022 housing market stats are here and...wowza! They are a doozy!
Because I love you, I've made some, uh, "highlights" to the data:
Check this out: percentage of ask received by sellers, on average, is a record breaking 102.1%.
Yes, you read correctly:
Percentage of ask over our 16 county, 110 township Metropolitan Indianapolis Board of Realtors (MIBOR) service area is 102.1%.
Why so high?
Simple: because inventory is so low.
Sure, there were over 3800 new listings in the month of March...
...but they only lasted five days (!) on the market and disappared just as quickly.
In their place, less than 2,000 homes appeared on the Multiple Listing Service (MLS).
Average price recieved continues to climb, some 15% over last month and counting.
Never thought I'd see the day when $275,000 was starter home pricing in the Indy Metro area, but here we are.
Ain't never thought I'd see this neither, but it must be next. Don't see why not.
Last time we had a meltdown ('memba the housing crisis of '08?), it was mainly due to overextension of credit and/or lax mortgage regulations.
This time...well, it's a straight-up supply and demand issue.
There aren't enough houses to go around; this has been happening nationwide since 2017, but we're now feeling it here in the Indy Metro.
It took a minute to hit the Midwest, but here we are.
If you want to sell your house, hear me on this:
DO IT NOW.
If you want to buy a house, hear me on this:
GO IN WITH A STRONG AGENT AND A SOUND STRATEGY.
Just because it's hard out there for a buyer doesn't mean it's impossible for a buyer.
And I ain't never been a fan of limits, anyway.
Call me and let's make a plan.
With unlimited gratitude,
Miriam
p.s. Not sure where to begin? No worries! Check out our Market Insider page for some quick info on your areas of interest. All you need is a zip code!
