The Metropolitan Board of Indianapolis Realtors (MIBOR) just released the latest market stats and, well...
Every heard the phrase "much ado about nothing"?
Remember, oh, about six months ago when I kept posting pictures of chickens with the "no" symbol attached, and kept hyperlinking stories to Chicken Little?
This is the one!
For those of you unfamiliar with that story, Chicken Little was hit by a walnut and immediately catastrophized the sky was falling, when it reality, it wasn't.
All of that hype and hysteria was for absolutely nothing.
Our current housing market is a lot like that.
Sure, interest rates have risen...but what effect has this had on our local housing market?
So glad you asked!
Telephone, telegraph, tell-the-stats!
It just so happens I have the data from both June 2022 and June 2023.
As you can see, we are almost exactly where we were last year.
Median sales price is still the same as it was this time last year, even with rising interest rates.
Going from five days on market to eight days on market isn't all that bad, and we are still holding strong at 99.5% of list price received.
We STILL don't have enough inventory, either.
Sure, it's risen a bit higher, but it's still remarkably low at 1.2%.
Does this say buyer's market to you?
I mean, supply does not exceed demand here--not in June 2022, and certainly not in 2023.
Want some friendly advice?
Don't believe the hype.
When it comes to listing your house, call me and let's talk facts, data and strategy.
We are not about to leave your hard-earned equity on the table.
With No Small Amount of Statistical Gratitude,