May 2020 Housing Market Statistics

Market Trends

The latest housing stats are out!

May 2020's single family home market stats show a rise in median sold price from $210,000 in April 2020 to $215,000 in May, a 2.32% increase.

Days on market have remained the same; they were 38 in April and continued to be so in May.

New listings rose to 3,722, which is a significant increase from last's month's number of 2,779 new listings. In fact, it's higher that March 2020's number of 3,635.

Perhaps due to more inventory roaring back to the market, the percentage of ask received by sellers dropped slightly to 97.9%, the same number we saw in March.

Looks like the market is still strong, particularly if you are a seller. It's softening up just a little bit for buyers with percentage of ask, though median sold price has continued to increase. Fortunately, due to current low interest rates, your buying power may increase.

If you are thinking about making a move, now would be the time. Prices--and interest rates--are projected to increase, though it's still anyone's guess as to how this will all shake out.

2020 has certainly been full of surprises. 

 

Want to continue this conversation? Let's talk further!

Miriam Odegard, Broker/Sales Director, Herg Group Indianapolis

Keller Williams Realty 

8555 North River Road, Suite 200

Indianapolis, IN 46240

text/mobile:  (317) 220-5397