Guess what time it is?
If you guessed Monthly Market Update, you are correct!
Sellers continue to enjoy the strongest housing market I've ever seen, with percentage of ask received at 101.5% city-wide.
Read that again if you need to. I know I did.
Lemme say it again:
Percentage of ask received is, on average, 101.5% city-wide.
That's average throughout ALL of the MIBOR service area, which is a 16 county, 110 township wide area, folks.
What does this mean if you're a buyer? Well, if you want your offer to be competitive, then we start at asking price and adjust upwards from there.
These are market conditions right now. Check out the rest of May 2021's stats:
Median sold price is up over 18% from this time last year, and active inventory continues to plummet, down over 52% from this time last year. That's...that's a scarcity market if I've ever seen one.
There's a lot of speculation behind this, and no one knows exactly what's fueling such strong demand and such low inventory. And absolutely no one knows how long this will last. Heard a lot of guesses, and how this will shake out is still unknown.
However, I do know this...if you have a house to sell, Dwight Schrute has something to tell you:
All kidding aside, if you would like to talk about selling your house, please call me.
I can give you a specialized statistical report for your area, as well as a range of pricing models unique to your situation.
If you're a buyer and would like to start the buying process, also call me.
We can talk strategy and make a plan tailored to your needs.
Contact me below.
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