Happy Tuesday!
Guess what I have for you?
If you guessed a heaping helping of the latest market stats around the Indy Metro Area, you'd be 100% correct!
Look, there's a lot of misinformation out there--and that can be dangerous, especially if you're thinking about buying or selling your home. Get yourself some cold hard facts so you can make the best financial decision possible.
Speaking of cold hard facts...
We. Are. In. A. Seller's Market.
STILL.
Supply of inventory is a scant 1.7 months--and while that may be slightly up from this time last year (April 2024 shows a 1.4 month supply of inventory), that's no where NEAR a buyer's market. A buyer's market is defined as six months or more of inventory; here, we have maybe a little over a month and a half? That's not a whole heck of a lot.
Now, there are some who have revised this definition to only three months of inventory; again, even with that revised definition, we still are on the lower end of the inventory spectrum.
But Miriam, what about all the articles out there saying that impending doom is imminent?
Whatever shall we do?
Look, we get it.
Yes, median days on market have risen slightly; yes, inventory is slightly higher, and yes, every bot with a social media account is talking about how the sky is falling, like some sort of hysterical diminutive chicken.
Don't listen to this guy, folks.
Let's do a side-by-side comparison of where we were last year:
Percentage of list price received is only slightly lower than last year; the same goes for closed sales.
However, median sales price is--on average--some $10,280 higher all across the board. Median price per square foot is also higher than last year.
So...when people tell you that the market is about to crash, ask them where.
Where, exactly? 'Cause it ain't here in the Indy Metro.
At all.
Remember that if someone tries to hustle you out of your house.
With Gratitude,
Miriam
p.s. Want your very own housing market report, customized to your criteria?
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