What's that old nursery rhyme again? Something like 'round and 'round it goes...where it stops, no one knows.
The latest stats are out, and it's still a seller's market!
Throughout the 16-county Metropolitan Board of Indianapolis Realtors (MIBOR) service area, January 2021's single family home market stats show a median sold price of $221,000, which is down 4.5% from December 2020, but up 16.2% from this time last year.
Average Days on Market (DOM) are 38 days, up slightly from last month, but down almost half by this time last year. Again, we are seeing strong demand for home in the 16-county, 110-township MIBOR service area.
Units sold decreased to 2,025, down 40.2% from last month but slightly higher from this time last year.
Active inventory has, unsurprisingly, continued to be scarce. I don't want to say "rare as a hen's tooth", but we are seeing it continue to plummet. Active inventory is down 20.4% from the month prior and a whopping 57% from January 2020--and inventory was scarce then.
Percentage of asking price received by sellers is relatively stable at 98.2%. However, in certain area's (hey there, Hamilton County), it is not unusual for percentage of ask received to be over 100%.
What does all this mean?
We're still in a strong seller's market. I've never seen market indicia this strong, even in the early 2000's, when I was in new construction. If you have a house to sell, now would be the time.
If you have equity to maximize, call me and let's talk about what I do to protect that equity for you--and how I can help move your dreams forward.
Want to know the latest market stats for YOUR area?
Please contact me and I will send you a detailed report free of charge.
Miriam Odegard
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