Fort Wayne, Ind.—Today, the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS) released its May 2024 local housing market report. Comparing last month’s figures to the same timeframe in 2023, the leading market indicators are as follows:
- New Listings increased 6.4 percent to 948.
- Pending Sales were down 1.2 percent to 731.
- Closed sales were up 3.2 percent to 714
- Inventory levels grew 22.4 percent to 1,072 units.
- The Median Sales Price increased 10.9 percent to $255,000.
- Percent of Original List Price Received decreased 2.1 percent to 98.2 percent.
- Months Supply of Inventory was up 30.8 percent to 1.7 months.
“Real estate is still thriving, even with today’s mortgage interest rates,” said Rudy Koch, UPSTAR MLS President. “However, the slight dip in Pending Sales may indicate a cooling effect if prices continue to increase throughout the summer months. But if rates fall and inventory rises, the opposite is true.”
The data from the May 2024 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2022 and 2023. 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.
