A Brief Look at the Mid-Year Market
Here’s a quick mid-year summer market update.
Believe it or not, we’re already halfway through July! Today I want to take a moment to bring you a quick update on the market so that you have a sense of how things are at this point in the year.
At $250,000, the median sales price actually went up almost 25% over last year in the 16-county area of Central Indiana. The median sales price in 2020 was $203,000, and in 2019, it was $185,000.
The traditional back-to-school lulls that we’ve experienced in years past really don’t exist in the market right now.
Days on market continue to decrease, meaning that homes are selling faster. Our months of inventory are still extremely low; we only have a couple of weeks’ supply of homes, whereas just two years ago at this time, we had around two months.
Now is still a really good time to sell your home. Buyer demand is still high, and the traditional back-to-school lulls that we’ve experienced in years past really don’t exist in the market right now.
If you’re thinking about selling your home or you have any questions, don’t hesitate to reach out to us. We would be happy to set up a consultation where we could walk you through the home-selling process and answer your questions.