The latest housing stats are out!
June 2020's single family home market stats show a rise in median sold price from $215,000 in April 2020 to $219,000 in May, a 9.5% increase.
Days on market have decreased; they were 38 in April and were 35 in May.
New listings dropped to 3,208 which is a 10.3% decrease from last month's number of 3,722--and an astonishing 43.6% decrease from this time last year.
Incredibly, percentage of asking price received by sellers has risen to a whopping 98.4% and is still an increase over what we saw last year in June 2019.
New listings rose to 3,847, which is only slightly higher than last month at 2.2%. However, it's down nearly 10% from this time last year.
Looks like the market is still strong, particularly if you are a seller. Whatever gains buyers had last month have evaporated--median price and percentage of ask are higher and inventory is lower. Those are the market conditions you are walking into as a buyer, so be prepared to bid at least list price if you want the house, and maybe consider paying your own closing costs.
If you a seller, market conditions don't get better than this. If you are thinking about making a move, now would be the time. As they say, strike while the iron is hot and you may walk away with a handful of cold, hard cash.
Does selling your home make sense to you? Let's talk further!
Miriam Odegard, Broker/Sales Director, Herg Group Indianapolis
Keller Williams Realty
8555 North River Road, Suite 200
Indianapolis, IN 46240
text/mobile: (317) 220-5397