Hi All! Here’s a quick update on what I see in the market right now. As usual, this is an ever changing market. If you have questions, just give me a call and we’ll talk about it in greater detail.
Also, here’s a Indiana Association of Realtors market report too:
County Market Numbers — Month only.
Here’s my summary:
- Units sold, UP 6.6%. 530 homes sold.
- Average Sold Price, DOWN 1.2%
- Average Price Sold: $102,923
- Sale Breakdown: 88% Private Sale, 15% Foreclosure (4th year down), 3% Estate
- Overall Absorption Rate is 4.5 Months (fairly balanced). $300k and up is about 7.5 months (that’s up from 5.5 months last year). It’s a Seller’s Market below $300k. Big need for $75-200k housing.
- Inventory: Only 439 homes. That’s very very low.
So, that’s the gist. I still like what I see right now, but sure wish we had more inventory across the board. It does seem like homes over $275,000 seem to be taking longer to sell — especially those over $400,000.
I’m here to help!