UPSTAR MLS Releases January Housing Market Report

February 16, 2016

Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its January 2016 local housing market report. Comparing last month’s figures to the same timeframe in 2015, the leading market indicators are as follows:

  • New Listings decreased 4.6 percent to 677.
  • Pending Sales were up 15.1 percent to 564.
  • Closed Sales decreased 8.5 percent to 345.
  • Inventory levels shrank 20.5 percent to 1,918 units.
  • The Median Sales Price increased 6.8 percent to $107,875.
  • Percent of Original List Price Received increased 0.7 percent to 92.0.
  • Months Supply of Inventory was down 25.6 percent to 2.9 months.

“Strong market indicators, with new inventory down 4 percent, pending sales up 15 percent and median price of homes increasing, make it a great time to put a house on the market,” Said Dave Mervar, 2016 UPSTAR MLS President . “There is great demand out there for well-priced well-staged homes.”

The data from the January 2016 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2014 and 2015. To view the full Market report as well as the fourth quarter 2015 Foreclosure Report and other housing statistics and archives, visit UpstarIndiana.com/housing-market-stats. 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.

ABOUT UPSTAR MLS
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 statistics are based on Residential Single Family listings and sales as reported to the Indiana Regional Multiple Listing Service (IRMLS), which may not reflect all real estate activity in the market. The primary coverage area of the UPSTAR MLS includes Allen, Whitley, Huntington, Adams, Wells, DeKalb, and Noble Counties, however listings from other surrounding counties may also be entered in the UPSTAR MLS and therefore are included in the MLS-wide statistics. UPSTAR MLS is a local multiple listing service participating in the Indiana Regional MLS.


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