Analyzing the June 2023 Housing Market Review: Insights on All Property Types in 16 Counties

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Ross Clavano
July 12, 2023
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The real estate market in Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam, and Shelby counties continue to offer promising opportunities for buyers and sellers across all property types, including Single Family, Condominium, Townhouse, Farm, Residential, and Manufactured Homes. The data provided in this review has been sourced from the MIBOR Listing Cooperative, and while there are some fluctuations, there are still positive aspects to consider.

  • The median sales price for homes in these counties is $295,000, showing stability with a 0.0% increase compared to June 2022. Although there has been a slight decrease of 1.3% compared to May 2023, it's important to note that the market remains strong and attractive.
  • The number of closed sales in June 2023 reached 3,312, which is a 2.8% increase compared to the previous month of May 2023. Although there has been an 18.4% decrease compared to June 2022, the recent upward trend indicates a positive shift in the market.
  • The median days on market stands at 8, showing a 60.0% increase compared to June 2022 and a 14.3% increase compared to May 2023. This increase suggests a higher level of buyer interest, leading to a slightly longer time on the market. It's important to highlight that the market is still characterized by relatively fast transactions.
  • The list price received remains strong at 99.5%, with a minor decrease of 2.3% compared to June 2022. However, there has been a 0.1% increase compared to May 2023, indicating that sellers are still able to achieve satisfactory results in terms of their asking price.
  • The median sold price per square foot is $155, showing a 5.5% decrease compared to June 2022. Nevertheless, there has been a 1.3% increase compared to May 2023, indicating a potential rebound in property values.
  • New listings reached 3,925, representing a 6.9% increase compared to May 2023. Despite a 25.9% decrease compared to June 2022, the recent growth in new listings provides more options for buyers, enhancing their opportunities in the market.
  • The active inventory currently stands at 4,004, showing a 2.7% increase compared to May 2023 and a 2.9% increase compared to June 2022. This increase in inventory offers buyers a wider selection of properties to choose from.
  • Finally, the months supply of inventory at 1.2  experienced a 26.0% increase compared to June 2023, indicating a slightly more balanced market. Compared to May 2023, there has been a minor decrease of 0.1%, suggesting that the market is maintaining stability.

Overall, despite some fluctuations, the real estate market in these counties continues to present opportunities for buyers and sellers alike. The median sales price, though stable, reflects the attractiveness of the region, and the increase in closed sales and new listings indicate a healthy level of activity. With a relatively fast median days on market, sellers can expect reasonable offers, and buyers have a growing inventory to choose from. These factors combine to make it an opportune time to engage in real estate transactions in these counties.

For all your real estate needs in these vibrant markets, we encourage you to reach out to RE/MAX Advanced Realty. Our experienced agents are ready to assist you in navigating the current market trends, finding your dream property, or selling your existing home for the best possible price. Contact RE/MAX Advanced Realty today and let us help you make your real estate aspirations a reality.

 

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