Let's dive deep into the the stats, shall we?
Throughout the 16-county Metropolitan Board of Indianapolis Realtors (MIBOR) service area, December 2020's single family home market stats show a median sold price of $222,900. We are up 14.4% from December 2019 and slightly down from last month in November.
Average Days on Market (DOM) are 34 days, up slightly from last month at 11.3%. This is only to be expected during the holiday season. However, they are down over 40% from this time last year, which likely indicates strong demand.
Units sold increased slightly to 3,333, up 2.6% from last month and a little over 20% from December 2019.
Speaking of which...let's talk some serious scarcity. Active inventory for December 2020 was 2,395 units--a 16.6% decrease from a month earlier AND an over 50% decrease from December 2019.
Percentage of asking price received by sellers has softened slightly to 98.4%.
What does all this mean?
Economic data appears to indicate that even though a global pandemic, civil unrest and all other assorted shenanigans that were Year 2020 ('sup, murder hornets and meth gators!), the housing market is still in the throes of strong demand and even stronger monetary returns for sellers.
How this will continue to unfold is anyone's guess, particularly after yesterday's chaos on Capitol Hill.
One thing remains certain: stay tuned and stay the course.
Please contact me and I will send you a detailed report free of charge.
Real Estate Broker/Owner, Odegard Real Estate Group
United Realty Indianapolis
1425 East 82nd Street, Suite 200
Indianapolis, IN 46240
text/mobile: (317) 220-5397