Hot off the press:
Check out the latest Market Trends, prepared just for you!
Let's get right to it:
Median sales price for the entire metro area is still $275,000, an increase upwards of nearly 4% over this time last year.
But wait!!
Median Days on Market (DOM) is up 150% from this time last year...meaning impending doom, right?
Wrong, baby. So wrong.
Check that stat again: it may be up compared to this time last year, but it's down 44% from a month prior.
Why?
Likely (almost certainly, really) due to the rise in interest rates this fall and the beginning of the spring housing market.
But...but...a market crash is imminent! Just like 2008!
Wrong, baby. So wrong.
Check out our inventory, which is hovering at a little over a month's supply.
Remember, that's the average for our 16 county, 110-township Metropolitan Indianapolis Board of Realtors (MIBOR).
In some counties, inventory is even lower.
See for yourself:
Hamilton County has entered the chat.
When one is in a metro area housing market with a) low inventory, b) high demand and c) and average list price received of over 98%, one cannot in all seriousness claim to be in a buyer's market.
Still want to stand by such a claim?
Wrong, baby. Wrong.
With Statistical Market Gratitude,
Miriam
p.s. Want a your very own specialized statistical report for your very own area?
Drop us a line and we're happy to provide on at no charge.
