Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its March 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 15.1 percent to 742.
- Pending Sales were up 7.2 percent to 742.
- Closed Sales decreased 12.2 percent to 597.
- Inventory levels shrank 60.8 percent to 407 units.
- The Median Sales Price increased 9.4 percent to $175,000.
- Percent of Original List Price Received increased 3.0 percent to 99.3
- Months Supply of Inventory was down 64.3 percent to 0.5 months.
“The March report reflects an increase in Pending Sales, which is sometimes a good indicator of positive Closed Sales next month,” said UPSTAR 2021 President Adam Smith. “Builders are working frantically to increase inventory for potential buyers but are facing challenges with the rising costs of lumber and supply chain backlogs. Nevertheless, we’re still hopeful that the Pending Sales this month will actualized into more Closed Sales for anxious buyers next month.”
The data from the March 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 as well as the first quarter 2021 Foreclosure 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.
