Upstate Alliance of REALTORS® MLS Releases May Housing Market Report

June 19, 2020

Fort Wayne, Indiana ( June 19, 2020 )—Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its May 2020 local housing market report. Comparing last month’s figures to the same time frame in 2019, the leading market indicators are as follows:

• New Listings decreased 10.8 percent to 1,020.
• Pending Sales were up 5.6 percent to 973
• Closed Sales decreased 19.4 percent to 692.
• Inventory levels shrank 18.8 percent to 914 units.
• The Median Sales Price increased 9.7 percent to $169,979.
• Percent of Original List Price Received remained flat at 97.4.
• Months Supply of Inventory was down 18.8 percent to 1.3 months.

“While we are starting to see the impact of COVID-19 in closed sales and new listings last month,” said Beth Walker, 2020 UPSTAR MLS President, “pending sales for May 2020 are ahead of the same period in 2019.
Because Fort Wayne remains a top contender for the hottest market, based on demand and time on market, signs are very encouraging for a strong recovery this season. The inventory of available homes for sale continues to run at record lows. It is an excellent time for sellers to put their homes on the market.”

The data from the May 2020 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2018 and 2019. To view the full Market report as well as the first quarter 2020 Foreclosure Report and other housing statistics and archives, visit http://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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