Upstate Alliance of REALTORS® MLS Releases March 2012 Housing Market Report

April 24, 2012

March 2012 home sales showed positive indicators in several areas with Closed Sales up 10.2 percent compared to March 2011. The market indicators for March 2012 include the following.

  • New Listings increased 10.0 percent to 1,171.
  • Pending Sales were down 0.7 percent to 610.
  • Inventory levels shrank 1.1 percent to 3,759 units.
  • The Median Sales Price increased 1.7 percent to $96,045.
  • Percent of Original List Price Received decreased 2.4 percent to 91.5.
  • Months Supply of Inventory was down 6.7 percent to 7.4 months.

“For nine months in a row, the Fort Wayne area has seen year-over-year increases in home sales, contrary to the national numbers that were recently reported” said Tug Pierson, 2012 UPSTAR MLS President. “In addition, we also saw a modest increase in the median home price in March 2012, which could indicate more competition among buyers for a shrinking inventory of homes as we approach the summer months. Potential buyers should take heed and make their move soon.”

Distressed homes are also selling off the market as indicated by a slight decline in the number of foreclosures from the first quarter of 2012. Foreclosures were down from 24.4 percent to 24 percent as compared to the first quarter of 2011.

The attached data from the March 2012 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2010 and 2011. To view the full Market Indicators report and the Foreclosure Report as well as other housing market statistics and archives, visit http://www.UpstarIndiana.com/MarketData. This Web page also includes market reports broken down by county in the UPSTAR MLS primary coverage area, which includes the counties of Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley.

The Upstate Alliance of REALTORS® Multiple Listing Service Inc., a subsidiary of Upstate Alliance of REALTORS®, serves area real estate professionals and the community by providing up-to-date listings of area homes for sale. The statistical data is from a database hosted by the Indiana Association of REALTORS. It may contain content from sources other than UPSTAR MLS and may not reflect all real estate activity in the market. The information is based on residential property sales from the Indiana counties of Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley.


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