Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its May 2021 local housing market report. Comparing last month’s figures to the same timeframe in 2020, the leading market indicators are as follows:
- New Listings decreased 13.2 percent to 902.
- Pending Sales were down 12.1 percent to 864.
- Closed Sales increased 0.1 percent to 720.
- Inventory levels shrank 56.3 percent to 414 units.
- The Median Sales Price increased 11.8 percent to $190,000.
- Percent of Original List Price Received increased 3.9 percent to 101.2.
- Months Supply of Inventory was down 61.5 percent to 0.5 months.
“Real estate activity remains strong as potential buyers rush to schedule showings for new listings entering the market,” said UPSTAR 2021 President Adam Smith, Coldwell Banker Real Estate Group. “But the activity needed most is more homes for sale. With inventory being less than half of what it was last year, we need home building and existing home seller activity to increase significantly.”
The data from the May 2021 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2019 and 2020. To view the full Market report and other housing statistics and archives, visit https://www.upstarindiana.com/pages/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.
