Fort Wayne, Indiana (July 21, 2022)—Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its June 2022 local housing market report. Comparing last month’s figures to the same timeframe in 2021, the leading market indicators are as follows:
- New Listings increased 5.9 percent to 1,073.
- Pending Sales were up 5.1 percent to 858.
- Closed Sales decreased 9.5 percent to 831.
- Inventory levels grew 4.6 percent to 453 units.
- The Median Sales Price increased 16.5 percent to $223,000
- Percent of Original List Price Received decreased 1.3 percent to 100.9.
- Months Supply of Inventory was up 57.1 percent to 1.1 months
“The 57 percent rise in the Months Supply of Inventory is an indicator that we are moving towards a more balanced market,” said UPSTAR MLS 2022 President Adam Smith. The supply was 1.2 months in June of 2020 and .7 months in June of 2021. So, we haven’t had the housing inventory to sustain one month of buyer demand for two years. While a balanced market of five to six months of housing supply is still a way off, the upward trend may give more buyers a chance to compete in this very aggressive market.”
The data from the June 2022 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2020 and 2021. 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.
