June 2021 Local Market
The big news (and not all that surprising) is that the average Days on Market (DOM) have fallen to an all-time low of 14 days in June, down from 15 days in May.
The Median Sales Price fell to $250,000 in June after posting $255,000 in May. This is not unwelcome news to all the buyers out there after the frenzied Spring with thousands over asking price winning most bidding wars.
The Median Sales Price is still 14.2% higher than June 2020.
Full Report at MIBOR.com
We are sitting on .50% for Absorption Rate, meaning, if no other homes come on the market, we would sell through the existing inventory for sale in half a month.
Other notables include Pending, Closed and New Listings are all up for June. That tells us, while inventory is getting a bit better, there is still not near enough for the buyer demand.
Madison, Hancock & Hamilton Counties
Madison County Real Estate Market News
Madison County saw increases in lot of metrics in June including:
- Median Sales Price: Up 8.9% over May to $170,000 and an increase of 36% over June 2020’s price of $125,000
- Closed Sales were up 27.5% over May
- New Listings were up 16.1% over May
- Pending Sales were slightly up (1.6%) over May
The Absorption Rate was .70, higher than the overall MIBOR 16 County Area of .50.
Basically, Madison County home owners are enjoying a strong sellers market and are seeing increases in home equity as the median sales price increases. This definitely makes this a great to time sell!
Hancock County Real Estate Market News
Hancock County saw a decrease in Median Sales Price in June, an attempt to normalize a bit after a crazy Spring market.
- Median Sales Price: $260,500, down from $265,765 in May (-2%)
- Closed Sales were up 3.2% over May
- New Listings were up 8.7% over May
- Pending Sales were down 4.6% from May
- Days on Market dropped to 10 Days from May’s 11 Days
The Absorption Rate for Hancock County is right in line with the overall MIBOR rate of .50.
Hamilton County Real Estate Market News
Hamilton County remains a hotspot in Central Indiana. Home to popular cities such as Fishers, Noblesville, Westfield and Carmel, Hamilton County is a desirable area for people and families.
- Median Sales Price continues to climb, up 2.7% ($380,000) over May ($370,000)
- Days on Market remained steady this month at 13
- Closed Sales, New Listings and New Pendings were all up in June
- Active inventory is setting at 266 homes at the end of June, up from only 222 at the end of May
Absorption Rate in Hamilton County is lower than the overall MIBOR area at .40. Buyers are definitely enthralled with Hamilton County, Indiana making it a GREAT time to sell for homeowners.
